Professional Liability Insurance

Beaverbrook, CT Professional Liability Insurance Coverage

Do I need professional liability insurance?

Are you a professional? Are you legally recognized as an expert or consider yourself an expert in your field? Do you run your own business? If your answer to these questions is yes, then you need professional liability coverage for your business. Professionals in Beaverbrook, CT such as doctors, dentists, beauticians, IT consultants, personal trainers and many others are expected to have extensive training, skills and technical knowledge in their area of expertise. There are also standards of conduct that guide their work. Failure to apply their skills and knowledge as is expected of them can result in their being held responsible for any harm that may have been caused to another person or business in a court of law.

Occurrence Coverage

This type of insurance coverage ensures that your business is covered for incidents that occur while the policy is still in force. It does not matter when the claim is filed. This means that even if the incident occurred ten years ago when your policy was in force, you would be covered for the claim. This also applies even if you are not in business any longer.

Claims Made Coverage

This type of insurance coverage ensures that you’re covered for claims that are made during the term of the policy. Claims made after the policy expires are not covered, even if the claim is for an incident that occurred when the policy was still in force.

Supplemental insurance provided to enhance claims-made insurance policies include:

• Tail coverage – This ensures that your business is covered for any claims made after the claims-made policy expires. The incidents must have occurred while the policy was in force.
• Nose coverage – This ensures that your business is covered for prior acts. It is suitable for use when changing insurance providers or employers.