Professional liability coverage can protect a law firm or other service company against liability and help defray the cost of defense following a claim for an error, omission, or negligence in the performance of professional services. Many policies also provide coverage for privacy violations and breaches of computer security.
Professional liability has become “the products liability of the service sector,” with risks that are both extensive and complex. In fact, even companies that view their exposures as manufacturing- or product-oriented may be surprised to find themselves exposed to professional liability risks through outsourcing, online commerce, and intellectual property issues.
What We Offer
Marsh can help you anticipate evolving professional liability exposures, then design risk transfer solutions to fit your needs. We’ll call upon our global team of experts, who are dedicated to understanding specialized industries, including:
- Banking, investment banking, and broker/dealers.
- Insurance companies and asset managers.
- Merchant banking and venture capital.
- Accountants, attorneys, architects, and engineers.
- Media, communications, entertainment.
- Healthcare and biotechnology.
Through constant communication, our experts stay current on business issues affecting those industries, and form a worldwide network of information sharing. They share, apply, and refine industry best practices to continually create new business solutions.
Because professional liability risks are complex and extensive, identifying and quantifying your risks require a high degree of expert scrutiny. So, in addition to coverage specialists, Marsh employs attorneys, economists and actuaries to assess your organization’s exposure from several different vantage points.