Byars Wright, a Higginbotham partner, is your trusted partner in protecting your career. We provide tailored professional liability insurance solutions to a wide range of professionals, from lawyers and attorneys to healthcare providers.
Our experienced agents will work closely with you to understand your needs and recommend the most suitable coverage. We’ll explore factors such as your profession, practice size, and potential risk exposures to ensure you have the right level of protection.
Don’t leave your professional future to chance. Contact Byars Wright today at (205) 221-3621 or request a quote below.
What Is Professional Liability Insurance?
Professional liability insurance, also known as errors and omissions (E&O) insurance, is a type of liability insurance that protects professionals from claims of negligence, malpractice, or professional misconduct. This coverage is essential for individuals and businesses that provide professional services, such as:
- Healthcare providers: Doctors, nurses, dentists, and other medical professionals
- Financial advisors: Stockbrokers, financial planners, and investment advisors
- Architects and engineers: Civil, structural, and mechanical engineers, as well as architects
- Lawyers and attorneys: Attorneys practicing in various legal fields
- Accountants and CPAs: Accountants and certified public accountants
How does professional liability insurance work? If a client files a claim against you alleging professional negligence, your insurance policy will typically cover legal defense costs, settlements, and judgments up to the policy limits. This can protect your assets and reputation.
Who Needs Professional Liability Insurance?
While not every professional needs professional liability insurance, it’s highly recommended for individuals and businesses that:
- Provide professional advice or services: If you offer expert advice or services to clients, you could be held liable for errors or omissions.
- Handle sensitive information: Professionals who handle confidential information, such as medical records or financial data, face a higher risk of claims.
- Work with high-value assets: If you work with valuable assets, such as real estate or investments, you may need additional coverage to protect against potential claims.
- Have a high-risk profession: Some professions, such as medical malpractice and legal malpractice, are inherently risky and require specialized insurance coverage.
It’s important to consult with an insurance agent to determine the specific coverage you need. Byars Wright can assess your risk and help you choose the right professional liability insurance policy to protect your business.
The Benefits of Choosing Byars Wright for Professional Business Insurance
Independent Insurance Agents
We work with multiple insurance carriers, allowing us to compare plans and find one that offers the best coverage and value for your needs.
Convenience and Accessibility
Whether you prefer to meet in person, discuss your options over the phone, or connect online, we’re here.
Experienced and Knowledgeable Agents
Our team has in-depth knowledge of the professional liability insurance market and can answer your questions clearly and concisely.
Local Expertise
As an Alabama-based agency with locations in Birmingham, Cullman, Huntsville, Gardendale, and Jasper, we’re familiar with the needs of residents and businesses in our community and can tailor your plan accordingly.
Personalized Service
We take the time to understand your unique circumstances and financial goals to recommend the most suitable large and small business professional liability insurance plan.
Professional Liability Insurance FAQs
What does professional liability insurance cover?
Professional liability insurance gives your business financial protection against claims of negligence, malpractice, or professional misconduct. This coverage safeguards your business from potential lawsuits, legal fees, and settlements arising from mistakes or errors while providing professional services.
Who needs professional liability insurance?
Professional liability insurance can benefit a wide range of professionals, including small business owners. This includes healthcare providers, financial advisors, architects and engineers, lawyers and attorneys, accountants and CPAs, and others.
If you provide professional services to clients and are at risk of being sued for errors or omissions, you should consider professional liability insurance. And if you’re a small business owner, ask us about professional liability insurance for small businesses. Our independent agents will work with you to determine the specific coverage you need to protect your business.
Does my business need professional liability insurance?
Whether your business needs professional liability insurance depends on the specific services you provide and the level of risk involved. It’s highly recommended if you offer professional advice or services, handle sensitive information, or work with high-value assets.
Consulting with an insurance agent can help you determine the coverage you need to protect your business.
Need Professional Liability Insurance in Birmingham?
Protect your career and financial future with reliable, professional liability insurance. Byars Wright, a Higginbotham partner, is your trusted partner in safeguarding your practice.
Our independent agents are ready to work with you to understand your needs and recommend the best coverage options. Contact us today to find an insurance plan that gives you peace of mind and financial security.
