Koverage Insurance Group Professional Liability Insurance
Koverage Insurance Group, with offices in Enfield CT, serves professionals who work in the state of Connecticut by providing them with professional liability insurance.
Who needs professional liability insurance?
The state of Connecticut has a long list of professional workers and companies that are required to have a license to operate in the state who should also be insured.
These license requirements include these categories of workers and companies:
- Construction: Architects, Contractors, Crane Operators, Surveyors, Well Drilling
- Engineering: Electrical, Mechanical, Machinists, Welders
- Financial: Accounting, Attorneys, Advisors, Stockbrokers
- Gyms: Health Clubs, Spas, Swimming Pools
- Health Care: Hypnotists, Laboratories, Nursing, Pharmacies, Physicians,
- Media: Radio, Television, Telecommunications,
- Personal Care: Massage, Salons
- Real Estate: Agents, Brokers, Inspectors
Other professional workers, who are not listed here, may also need a license. All professionals, of every kind, benefit from having professional liability insurance.
Professional Liability Insurance
Professional liability insurance (PLI) is also called malpractice insurance in some fields, such as health care. It may also be called errors and omissions (E&O) insurance in the financial sector. In general, it provides protection against the liabilities for damages caused by making a mistake in a professional capacity.
PLI coverage is specifically designed to protect professionals in each category according to their needs. Talk with your agent at Koverage Insurance Group, serving Enfield CT, and the state of Connecticut to learn more about the professional liability insurance for your field.
Professional Liability Insurance Considerations
It is a good idea, at the very minimum, to protect your net worth, which are the assets you own less the liabilities you owe. Professional liability insurance should at least be a high enough figure to cover this amount. With this coverage, you hope to avoid the catastrophic loss of everything you own, if you are sued due to an unfortunate mistake and lose the case.
The amount of coverage and the deductible you choose with affect the insurance premiums you have to pay. Get a quote from your agent to make sure you have adequate insurance coverage before you engage in professional activities.