PROFESSIONAL LIABILITY INSURANCE FOR SMALL BUSINESS Common Concerns Professional liability insurance for small business raises its own set of unique concerns.  Small business owners looking to protect their investment require quality professional liability insurance.  Coverage that provides peace of mind acts as a metaphorical umbrella, protecting the owners’ interests and ensuring that qualified claims will be dealt with correctly.  Some common concerns to address when choosing professional liability insurance include: Does the coverage extend to defense?  Most policies do provide reimbursement for legal fees – as long as the policy holder is found to be blameless in a court of law. These policies are mostly claims-made.  That means that in order to report a claim to the insurance company, a company must have a current policy in effect.  For example, imagine that a small restaurant owner was recently sued for an event that occurred five years ago.  To enjoy the protection provided by a policy, one must still be current. Even if you’ve changed professional liability insurance carriers over the years, the retro-active date of such an event will stay the same.  The event may have happened in the past – but the fact that it’s surfacing now means that you need to apply the claim to the current policy. Many professional liability policies are similar and it takes some reading of the fine print to deduce the differences. At Agency Marketing, we have years of experience acting as the educational source for brokers.  All our carriers are A-rated.  We’ll search to find the best quote  -- and best policy -- for your clients.   Discuss Professional Liability Insurance for Small Business with an Expert: 1-800-542-2805.