Professional Liability 101: Who needs professional liability insurance

14, Feb, 2022

If your business earns its revenue from offering professional services or advice, a dissatisfied client can quickly start costing you money and may even result in a lawsuit. Any self-employed professional or business that sells its expertise should have professional liability insurance.

If you already have a general liability insurance policy, you may wonder how it is different from professional liability insurance. The main difference between general liability and professional liability insurance policies is the types of risk they cover. General liability protects against physical injury to people or damage to property arising from your business operations. Professional liability covers negligence related to professional services or advice. It’s generally related to financial loss vs. physical injury or damages.

Why You Should Have Professional Liability Insurance

  1. It can protect your income.

A lawsuit can be time-consuming, draining, and can potentially hinder your business growth and reputation. Professional Liability Insurance can help protect you and your business in case of a professional liability-related lawsuit. Professional liability insurance covers your lost income and wages amongst other things.

  1. Mistakes happen.

Professional liability insurance is also known as errors and omissions insurance. Mistakes can happen and when they do, professional liability coverage is there to protect you as long as they are unintentional and there was no criminal intent.

  1. It can cover a variety of claims.

Professional liability coverage can help protect you in a variety of claims. CLICK HERE to see what’s covered by the Technologists Professional Liability Program.

  1. It provides peace of mind.

Even the most cautious and diligent technologists may be hit with a lawsuit. Having professional liability coverage can help give you peace of mind and allow you to focus on best serving your clients.

Professional Liability Program by ASET

As part of your ASET membership benefits, you are entitled to professional liability coverage (i.e. errors and omissions) protection.

This coverage continues to provide a number of valuable benefits for our members. The coverage includes:

  • Protection up to $50,000 per covered claim.
  • Protection of up to $5,000 for certain acts excluded by other insurance — e.g. disciplinary matters.

For some ASET members, this coverage is not sufficient, which is why we offer the Optional Excess Professional Liability Insurance Program.

ASET members who require professional liability insurance beyond the Program’s $50,000 policy limit may apply for excess insurance coverage for up to $5 Million. Members who apply for excess coverage through the Technologist Professional Liability Program receive exclusive members-only pricing. Applying is simple. Within minutes, you will get a no-obligation quote at preferred group rates, CLICK HERE to get started.


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