Professional liability insurance is a good idea for anyone who works in a professional capacity. Usually thought of as a tool for doctors and lawyers, there are actually many professions that benefit from this type of insurance. Below are 10 careers that require professional liability insurance.
Attorneys
An attorney who practices without liability insurance is one who does not value his or her own career. Failure to carry insurance can lead to costly settlements when an attorney is accused of malpractice.
Doctors
Physicians are frequent targets of malpractice suits, and thus must be insured against them. All doctors carry some form of professional liability insurance, many in addition to insurance that might be provided by their practice or hospital.
Teachers
An increasingly large number of teachers carry professional liability insurance. Given that more parents see fit to bring suits against schools and teachers for incidents in the classroom, a teacher’s best chance to avoid perpetual poverty is to have liability insurance available.
Therapists/Counselors
Therapists and counselors work closely with individuals. If something goes wrong in that individual’s life, it can often be blamed on the therapist. Like most others in the world of medicine, therapists are always advised to keep up-to-date liability insurance.
Physical/Occupational Therapists
Another subset of medical professionals, these therapists often work with individuals in rehab. the fragile states of these patients can make potential malpractice suits more likely – so likely, in fact, that most practices require their physical and occupational therapists to carry insurance as a condition of employment.
Insurance Agents
While you might not think that an insurance agent would require liability insurance, a rather large number of these professionals do have coverage. While most customers are more likely to sue the company itself for perceived wrongdoing, insurance agents often find themselves part of that suit.
Contractors
Contractors often carry insurance to deal with the possibility of something going wrong on a job site. Most contractors carry a bond, but additional liability insurance can help to prevent that losses that come with claims of malfeasance on a project.
Brokers
Brokers are in a high-stress job, and their clients expect results. If those results don’t come through, the broker is often held out as the person to blame. In order to avoid financial ruin, many brokers carry some form of professional liability insurance.
Accountants
Like brokers, accountants are charged with protecting their clients financial future. And like brokers, they are often saddled with the blame if something goes wrong. Accountants carry professional liability insurance to protect their livelihoods and their futures.
Real Estate Agents
Even real estate agents need liability insurance. If a deal fails or a promise was broken, the agent may be on the hook for the damages. Agents who carry liability insurance can practice with more confidence.
