Providers of professional services can find themselves in disputes with their clients and others claiming damages allegedly caused by their services’ failure to meet their expectations or the legal standard of care. Even when these claims have little or no merit, professional firms must pay for a defense against such allegations, and may even find that a settlement is preferable to the uncertainty and expense of protracted litigation.
Professional liability insurance (sometimes referred to as professional indemnity) covers the cost of defense as well as settlements or judgments against the insured professional. This professional liability coverage provides financial security not only to the insured, but to the insured’s clients, who often require their retained professionals to carry this insurance. Lockton works with a wide array of clients in the professional liability arena, including:
- Design Professionals
- Healthcare workers
- Financial Advisors
Lockton is one of the leading advisors on professional liability insurance. We have unparalleled knowledge of the coverage available under professional liability insurance policies, and strong relationships with a wide array of top professional liability insurers. But our expertise does not stop with insurance. We make it our business to understand the specific risks and challenges inherent your professional practice. Armed with this knowledge, you can count on Lockton to provide specialized risk management advice, assistance, and insurance to you as our professional services client.
To learn more about dedicated Professional Indemnity team in the UK, click here.
Service starts with listening. We take the time to understand your specific goals, design a program that fits your needs, aggressively negotiate coverage, and implement a service plan. You will have the same dedicated service team throughout the entire process which allows us to anticipate your needs and create accountability.
It’s all about you. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
Long-term thinking. Clients stay with us based on our expertise, creative solutions, seamless global resources and outstanding service. Our client retention rate of 95 percent reiterates our commitment to each and every client.