Miscellaneous Professional Liability insurance is specifically designed to provide coverage for errors and omissions in providing professional services to others for a fee.
MPL Insurance Is Needed for Anyone Who Works in a Third Party Capacity
There are specific policies for certain professions including, but not limited to Lawyers, Accountants, Security Brokers, Architects and Engineers. While these classes are easily recognizable, many professions are not handled with dedicated policies. These other professions would be written on a Miscellaneous Professional policy and endorsed to cover the appropriate exposure. ARC’s expertise shines in tailoring coverages to various professions, to ensure its clients are protected.
When a claim is made by a third party, alleging that an Insured negligently performed or failed to perform a professional service, leading to a financial loss of the third party, this is likely to be the only policy the Insured can look to for coverage. With the rising cost of legal fees and the potentially devastating effects of an expensive legal action at risk, MPL Insurance has become a necessity in any profession.