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Professional Liability

Professional liability insurance (PLI), also called professional indemnity insurance (PII), is a form of liability insurance that helps protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. 
 
The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability coverage sometimes also provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice (especially medical and legal), and is also sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
 
Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by consultants, brokers and lawyers. Other professions that commonly purchase professional liability insurance include: accounting and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.

Contact us today to find out how we can help you with your professional liability insurance needs.

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What Our Customers Are Saying... 

Pennie Hunt
Speaker, Author -- Communicator of Life Lessons www.PennieHunt.com 
John worked with me to secure an insurance policy. He kept me informed every step of the way from the application process to having the policy in hand. He is professional, detailed and thoughtful in his work. I would recommend his services in the highest way.

Harris Cohen
chiropractor and author at Dr. Harris R, Cohen
John is an expert in his field. He is very intelligent and has great insight. 
I highly recommend John for all your insurance and retirement needs.

Jim Naples
owner EASTBAY BUILDERS INC.
John is a person who brings his knowledge and integrity of his business to any company or individual he works with. We have used John to implement insurance options in several of our businesses and were impressed with the service and creative options he brought to the table in ways to diversify and save money. I would recommend him for all financial and annuity plans especially in this economy.

Glen CarusoClick 
Entrepreneur | Premier Digital Marketing Strategist | SaaS Enterprise Executive | Educator
I don't write many recommendations for business associates on LinkedIn, yet I feel compelled to do so for John Johnson. 

I've known and worked with John for more than 20 years. Most importantly, I believe he's one of the most ethical and focused businessmen I know. 

John's approach to business is not typical. He's the type of person who seems to have an intuitive sense for not only where markets are moving, but the way it will affect people. He then applies that to how it can benefit his current and potential customers. I think that John excels because he cares about those he does business with and genuinely wants to help. He's consultative, but never preachy. He'll do what's right for his clientele -- whether it means he'll get the business or not. Simply, he cares. Most importantly, John's a decent man who's also a lot of fun to be around. He's always got a funny story and leaves you with a sense that you're in good, capable hands. 

Company

ST Licence #LA-1110114, PC-1110114

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Balanced Financial Solutions, Inc.
PO Box 357
Shoreham, NY 11786
Phone: 877-237-3711
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