Other Professionals Liability Insurance Program

What is Miscellaneous Professional Liability Insurance?

Miscellaneous Professional Liability Insurance (MPL) is designed to provide protection for professional services firms. An MPL policy will protect any professional services partnership or corporation, including the partners, officers, employees and directors, while acting within the scope of their professional duties. The policy will provide coverage for claims arising from alleged negligent acts, errors or omissions committed while rendering professional services. Some coverage highlights will generally include:
   

• "Claims-made" policy form
• "Prior acts" coverage
• "Pay on behalf of" policy
• Extended reporting period options

With Jamison's strong professional liability expertise and market relationships, we'll find the right Solution for your professional liability needs…including unique or high-risk professional liability exposures. Some of the businesses requiring MPL coverage include:

• Business Consultants
• Employment/Staffing Firms
• Franchisors
• Product Designers
• Real Estate Services
• Telecommunications Companies
• Non-Medical Testing Labs

Why is a Miscellaneous Professional Liability Insurance policy necessary?

Even though your business most likely has Comprehensive General Liability (CGL) coverage, it is important to understand that unless there is bodily injury or property damage resulting from a negligent act, in most instances your CGL policy will not provide coverage for any claims arising from rendering professional services. An MPL policy will fill this coverage gap.

Virtually any firm today that provides advice or other services as its core product faces an increased threat of claims alleging errors and omissions in the performance of its duties. With our economy shifting from manufacturing based to one dominated by service businesses, greater demands and competitive pressures are being placed on professional services firms. As a result, clients' expectations are increasing, professional services firms are faced with having to offer additional services and advice changing their core business functions and are being required to carry adequate insurance protection:

• Failure to meet client expectations is often the primary factor in a professional liability claim - even more so than actually doing faulty work.
• Offering new services brings with it an increased potential for professional liability claims because the new practice areas pose unfamiliar or hidden risks.
• A growing number of professional services firms are required to provide proof of professional liability insurance before they can begin a new project.

To discuss Solutions pertaining to Miscellaneous Professional Liability Insurance for your firm, please contact us.