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Simplesure can help you comply with your professional liability insurance contract requirements in the most budget friendly way possible.
The reasonable care test
If you are sued for professional (errors & omissions) liability the plaintiff will hire experts in your field to analyze your quality of work and to look for missing pieces in the decision making process you used to provide services to your client(s).
Insurance policies will typically pay for your professional liability defense costs associated with an insured claim. Defense costs can be paid “outside the limits” which means on an unlimited basis or “inside the limits” which means defenses costs will be paid out of your total limit of insurance coverage and subtracted from what can be paid out of your insurance company settles the claim.
Claims made or occurrence liability insurance. A claims made policy will only respond to claims that are made during the policy terms and not be tied to the date of occurrence. Claims made can get tricky because some claims made policy forms define a claim as a “demand for money” and others define a claim as an “incident” that might lead to damages.
An occurrence policy will respond to the date of the incident even if the lawsuit is filed after the policy has been cancelled.
Other types of liability insurance include general liability insurance, products liability insurance and pollution liability insurance
Please send us your professional liability insurance requirements section from your vendor contracts and we can get started.
We are ready to assist with your professional liability insurance compliance needs anywhere in the United States.