Professional Liability

Is Making a Professional Liability Claim Easy?

Table of Contents

Since you have been sued, you are probably glad that you decided to get professional liability insurance. This will enable the stress and strain to be taken off of you. Even the best of professional can make a mistake. Instead of having to scramble and see what you can do, you will be able to relax and let your insurance company handle things.

Beginning the Claims Process

It is not hard to begin the claims process. You must speak with your insurance company to let them know what is going on. At this time they will assign a claims professional to you. This claims professional will take any paper work that you have and look it over. Make sure that you give their assigned claims professional any receipts, contracts, written statements, or other paperwork that you have.

After you have submitted the information to the claims professional working on your case, they will look over your claim. Once they are done looking over your claim, they will let you know if this claim is in fact covered under your policy. If you set up your policy correctly, this usually will not be a problem.

While you are waiting for your assigned claims professional to get back to you with word about your claim, you should not do anything. Some people try to fix the problem that they are being sued for. This is not a good idea. You are already being sued by this person so you need to leave them alone and allow your the professional that is working on your case to do their job. You also should not sign any papers or make any agreements at this time.

Finishing Up

After it has been determined that your claim is covered by the professional liability insurance that you have, it is time to see what kind of settlement can be reached. Sometimes these settlements happen out of court if both parties can agree. Sometimes they must go to court if an amicable agreement can not be reached.

If you have to go to court, your professional liability insurance will pay for a lawyer to come and represent you. Depending on the amount of coverage you have, most of the time all legal fees should be paid by your insurance. Always make sure that you read your policy over thoroughly to know what kind of coverage you have.

Knowing the coverage that you have is important whenever you get your policy. Some companies get the bare minimum so that they can get a contract from a certain client, but this could leave you having to pay a large amount of your settlement. It is important that you get adequate coverage for the type of work that you do. It is always better to have more coverage than you need than to have less coverage than you need.

Some jobs are more risky than others. You should speak with a professional at the insurance company that will speak with you about how much insurance coverage you should have for your business. Making sure that you are properly covered is very important. You can always make your premium payments lower by setting up a higher deductible for your policy.

When you are asking, is making a professional liability claim easy, the answer would be yes. All that you have to do is provide proper documentation of your transactions with the client that is suing you. If any other information is needed your assigned claims professional will be able to help you figure out how you would go about getting that information.