We all miss deadlines sometimes, but are you covered if that missed deadline turns into a lawsuit?
You understand that sometimes human error is unavoidable, and you want to keep your business safe from the financial ruin a lawsuit can cause. But when finding affordable professional liability insurance feels impossible, Southpoint can help.
If your business sells products to the public, you know that you’re at risk of a lawsuit if the product is defective or causes injury. But the risks of being a service-provider like a lawyer, architect, or real estate agent are harder to identify. Professional liability insurance, also known as errors and omissions, exists to cover the service-related lawsuits that general liability insurance excludes.
Any business that profits off expertise should consider professional liability insurance. Some examples include:
- Medical professionals
- IT providers
- Advertising agencies
- Real estate agents
Some business owners may be legally required to carry professional liability insurance coverage due to state or industry regulations. Different industries may also need specialized errors and omissions insurance to cover the risks unique to their services. Some professional service providers like oral surgeons are more susceptible to lawsuits arising out of their work and need higher limits to cover defense costs during a suit.
When you or your employees fail to deliver a service, make errors in your work, omit critical information during a client meeting, or infringe upon another company’s copyrights, you might end up getting dragged into a costly lawsuit. Professional liability insurance prevents a financial loss to your business by covering defense and settlement costs during the case.
Southpoint takes the guesswork out of finding professional liability insurance. Our industry professionals are experts in finding specialized coverage for any business at a price that won’t break the bank. Learn more about our specialized professional liability services below.
Information technology companies help other businesses streamline and modernize their computer systems. However, things can go wrong even when your company does everything right, and tiny mistakes can become huge problems for your clients. Protect your IT business from lawsuits arising out of faulty software, missed website deadlines, or coding errors with technology errors and omissions insurance.
With more businesses opting to move their work online, cyber attacks are a huge threat. Small business owners may not have an IT department or the money to provide cyber security training to their employees, which leaves them vulnerable to a catastrophic attack. A cyber liability policy will cover the costs of getting your business back on track after a cyber event and pay for defense costs and damages if a client sues after a data leak.
Dental professionals perform routine checkups and procedures on a daily basis, usually without issue. But even the most straightforward procedures carry risk, and a patient might choose to sue if they experience complications after their visit. Don’t let the financial effects of a lawsuit threaten your practice—dentists malpractice insurance will cover costs and allow you to keep doing what you love for years to come.
As an oral surgeon, you spent years in residency learning how to perform complex, life-changing procedures. Even the best oral surgeons encounter issues during a surgery that can cause complications for the patient, and risk increases significantly when a patient is under anesthesia. Oral surgeon malpractice insurance covers you and your practice when a patient sues for damages, regardless of the outcome.
Your board of directors and company officers are key players in your business. Sometimes, unhappy clients or employees single out individual executives and blame them for a bad business decision, financial mismanagement, or wrongful termination. D&O insurance protects their assets during a business-related lawsuit.
Southpoint understands that every business faces different professional risks because we’ve worked with every type of client. Let us find the right coverage for you.
If you work in a risky industry and need professional liability insurance, you might be shocked by the price tag. Because insurance companies are more likely to lose money on clients who file multiple claims, they charge hefty premiums for errors and omissions coverage. This can deter business owners from purchasing coverage.
You can’t afford to skip out on coverage if a lawsuit could put you out of business. That’s why Southpoint uses its long-lasting carrier relationships to shop around for cost-effective professional liability options. As one of the largest professional liability coverage providers in the country, we can help you identify the risks unique to your services and find a specialized program to cover you. Don’t opt out of coverage because it costs too much—let Southpoint help.