Guide to professional liability insurance

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Guide to professional liability insurance

Even though professional liability insurance is not always a legal requirement, it is always worth considering.

The sad reality is that mistakes do happen. If your business is in a bit of a mess, the costs associated with these mistakes can be very difficult to recoup if you don’t have the right legal protection.

So, what exactly is professional liability insurance?

Professional liability insurance protects you against legal defense costs as well as any compensation or costs that may be granted as a result of an alleged act, error or omission in the performance of your professional services. . Without it, you could be held liable for thousands of dollars in legal fees and compensation as a result, not to mention the loss of time spent defending yourself.

The undeniable advantages

By protecting yourself with professional liability coverage, you:

  • Enjoy peace of mind knowing that a legal professional will be there to deal with any allegation made against you.

  • Save precious time in the event of an unwanted incident knowing that any complaints will be handled by the experienced and knowledgeable staff in our complaints department.

  • Help reduce the possibility of interruptions in your business operations.

  • Open a window of opportunity for more work. Nowadays (and understandably) corporate clients such as engineers and architects tend to demand that such a policy be in place before signing new trade agreements.

Trades that might need it

Professional liability insurance is designed to meet the needs of people who work in (but not limited to):

  • Business professions such as accountants, auditors or consultants;

  • Legal professions such as lawyers and notaries;

  • Technical professions such as architects or engineers;

  • computer consultants;

  • Veterinarians;

  • Practicing physicians.

Ultimately, protecting your business can pay off a lot when unwanted circumstances arise. Why take the risk?

Click here to find out more about how you can protect your business, or feel free to contact one of our professionals by calling (+356) 2124 6262.

MAPFRE Middlesea plc (C-5553) is authorized by the Malta Financial Services Authority (MFSA) to engage in both long-term and general business under the Insurance Business Act. MAPFRE Middlesea plc is regulated by the MFSA

Disclaimer

Mapfre Middlesea plc published this content on October 27, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 27, 2021 10:07:02 AM UTC.


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