Category professional liability

Two Key Liability Insurance Options For Bankers

Liability insurance for bankers

There’s no question that banks and other financial institutions operate in a high-risk environment. In order to protect yourself against these risks, it’s important that you have the right amount of insurance coverage. If you’re uncertain about the coverage you need, it’s best that you work with an experienced agent. In the meantime, here are two key coverages that will serve as the foundation for your policy when you search for liability insurance for bankers.

Professional Liability

Professional liability covers you in instances where a client or other third party alleges that an error or omission in your professional services led to them experiencing a loss. For example, an investor may file a claim alleging that an advisor recommended poor investments. In such a case, your policy would cover any fees and payouts for which you’re responsible.

General Liability

General liability covers third-party lawsuits due to injuries or property damage resulting from your everyday business activities. As a bank with plenty of foot traffic, if a client were to fall and get injured, your policy would cover the legal and medical fees for which you’re liable.

Aside from professional and general liability, options for liability insurance for bankers include cyber, directors and officers and employment practices liability. Contact an agent for assistance with building the perfect policy for you.

Options for Professional Liability Insurance Coverage

business insurance in Sussex County New Jersey

When you get professional liability insurance for engineers in Indiana, you will have the option to customize your coverage. Customizing your insurance will give you the chance to make sure that you have coverage for every area you need. It can enable you to get extensive protection against things that you feel are the biggest risk against you professionally.

Negligence

The main coverage under professional liability insurance for engineers in Indiana is for professional negligence. This coverage will protect you against claims that you have not performed your professional duties as required. It can protect you when a client claims you failed to provide them with adequate services.

Other Options

In addition to the basic coverage, you may be able to get protection against situations where you may be accused of polluting. You can get coverage to protect against personal injury and structural defects. You may also be able to get coverage that will protect you from sanctions and financial issues arising from accusations that you have violated government policies, like the Americans with Disabilities Act.

As you are working to put together your professional liability insurance for engineers in Indiana, you want to make sure that you have adequate coverage. You never know what could happen, so it is always best to look at your business and figure out what risks need to be protected against.