When the words "professional liability insurance" are mentioned, people usually think someone is talking about a lawyer or a doctor. Those who are not well-versed in the insurance industry usually think those are the only professions that leave people open to lawsuits for their actions. The fact is that in this day and age, there are few professionals who would not benefit from the protection this kind of insurance offers. Medical professionals are going to benefit from being able to lean on this kind of protection when it comes to matters of life and death. Other professions can lean on the protection in matters that might only affect the pocketbook, but in ways that they can't afford on their own.
The Internet and Professional Liability Insurance
Work on the Internet is one business sector that has come under increased scrutiny in the last couple of years. Web developers can make a good living designing home pages for various retailers and businesses. If a web page is designed with a small flaw, such as something that knocks the page offline for a period of time, that can mean quite a bit of lost business for the company that hired the web designer. Should the company decide that they need to file a lawsuit in order to reclaim their lost revenues, the dollar amount can skyrocket quickly. The professional web designer who has not protected themselves with the correct professional liability insurance could lose their business, as well as their home and their livelihood.
Even the most competent doctors and lawyers need to have some kind of insurance, because issues can arise that they couldn't possibly have foreseen, but the court could still hold them accountable. In the same way, a very competent web designer may have built a perfectly acceptable web page, only to see it hacked or taken down by nefarious means. The company that owned the site could still decide to hold the designer responsible for not building in enough security. This kind of insurance simply serves as a safety net for the professional in almost any job. It allows the professional to do what they think is best at all times, without having to worry as much about the implications if something goes unforeseeably wrong. The professional is able to concentrate on their work and deliver the best product they possibly can. This is true if you are talking about someone working on the Internet, building an office building, or designing the interior of a home. This kind of protection allows the professional to have peace of mind from one day to the next when they are going into a new job with a new client.
Have more questions on Oklahoma City professional liability insurance? Give us a call at 405-373-2977 to find out just how affordable that peace of mind really is.