We live in a world where lawsuits are common. Private firms are no longer immune from litigation from employees, competitors, and even the government.
Management or professional liability insurance is not just good business; it is as necessary as heat and lighting for your office. Statutes, and federal and state laws change on a regular basis, so it is vital that your company protect its assets with management or professional liability insurance.
What is Included in Miscellaneous Professional Liability?
Usually, management liability can include Directors & Officers Insurance, Employment Practices Liability, Errors & Omissions Liability, and event Cyber Liability Insurance.
Miscellaneous Professional Liability Issues
- General Liability Insurance does not cover the risks of Employment Liability, Professional Liability, and Directors and Officers Liability. You need a separate insurance policy to cover these risks.
- Defense costs are going up at a rapid rate. Insurance can provide needed defense coverage, even if you are not liable.
- Company owners can be held personally liable for their actions as well as the actions of other managers or executives.
General Coverage Terms
- Coverage for claims brought by partners not involved in the firm’s management
- Mismanagement or negligence in the day-to-day business decisions
- Punitive damages coverage (where insurable by law)
- Coverage for subsidiaries
- Can include all employees
At home, on the road, or doing business, DSM offers Risk Management Solutions designed with your life in mind. As a family of 7 independent insurance agencies, DSM offers more products, more benefits, and more services. We ensure you, your family, and your business have the comprehensive coverage necessary to protect the property, assets, and people that matter most to you. No single agency can offer the options or blanket of services you’ll find with DSM.