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Professional Liability

Professional liability insurance (PLI), also called professional indemnity insurance (PII), is a form of liability insurance that helps protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. 
 
The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability coverage sometimes also provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice (especially medical and legal), and is also sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
 
Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by consultants, brokers and lawyers. Other professions that commonly purchase professional liability insurance include: accounting and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.

Contact us today to find out how we can help you with your professional liability insurance needs.

With Permission Insurance Information Institute, Inc.  ALL RIGHTS RESERVED 

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Just completed a 6 figure complex commercial renewal with Carter Glass. I've shopped other agencies, but didn't do so this year. Carter has a high level of knowledge about Commercial Insurance policies and spent many hours effectively laying out my options, costs and strategies. What I've found is a comfort level knowing I am properly insured at a fair cost. This can get so complicated that I need someone I can trust to handle it. I also moved our BCBS plan as Carter is an agent for them.

We have many certificates of insurance and items to handle on a monthly basis and the staff has handled them quickly and professionally. Same goes for Personal Insurance, but it's not quite as big a concern to me as my commercial accounts.

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5901 Falls of Neuse Rd.
Raleigh, NC 27609
Phone: (919) 230-8760
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