Products

Professional Liability Insurance

The cost of IRMI application products depends on the size of your organization. The size ranges are as follows.

  • 1-9 Employees
  • 10-30 Employees
  • 31-60 Employees
  • 60+ Employees - Contact us for a quote!

To subscribe to an IRMI product, you can purchase either a single-seat license for an individual, or an unlimited group license for everyone in your organization. The cost depends on whether your firm qualifies as a "Small Business" or a "Large Business" under the definitions in the following table.

Item Individual Small Business Large Business
Users 1 Unlimited Unlimited
Agency/Brokerage Any size Under $10M Revenue $10M+ Revenue
Insurance Company Any size Under $100M Premium $100M+ Premium
Law Firm Any Size Under 10 coverage Lawyers 10+ Coverage Lawyers
Risk Mgmt. Dept. Any Size Any Size N/A
Other Organization Any Size Under 100 Employees 100+ Employees

There are two payment plan options for buying an IRMI subscription product.

  1. Monthly: The full annual cost is broken out over 12 monthly payments that are billed to your credit card each month.
  2. Annual: Get 5% off the annual cost of the 12 month subscription, and the reduced amount is billed to your credit card once per year.

Professional Liability Insurance

Product type: 1 Year Subscription

Publication Date(s): 1990-2016

Update Schedule: Quarterly

Case Citations: 1,200+

Part of: Risk and Insurance Package

Discount: Prices shown include a 5% discount for choosing the annual payments option


Summary

The policy analyses and comparisons will help you determine which policies are best and design the broadest coverage.

Professional Liability Insurance provides actionable recommendations and useful insight into errors and omissions (E&O), medical and non-medical professional, and management liability exposures and insurance. It gives a helpful overview of the exposures that lead to the need of various types of insurance and follows with detailed analyses of how various policies cover or don't cover them.

Using its market directory, thorough policy descriptions and analyses, discussions of common problems and pitfalls, and summaries of underwriting considerations, any insurance professional can confidently evaluate, negotiate, and arrange almost any type of professional, E&O, or management liability insurance program.

Professional Liability Insurance covers these topics.

  • Legal Aspects
  • Practical Concerns
  • Markets
  • Common Features
  • Coverage Triggers
  • Directors & Officers
  • Governmental and Nonprofit
  • Fiduciary
  • Accountants
  • Lawyers
  • Insurance
  • Medical
  • Architects and Engineers
  • Media
  • Miscellaneous
  • Other
  • Employment Practices Liability
  • Medical Professions

Download Table of Contents

Agents, Brokers, and Account Support Staff

  • Evaluate and choose between competing E&O, professional, or management liability policy forms using the discussions and comparison charts.
  • Increase your sales using supportive explanations of exposures, related claims, and needed coverage.
  • Work more successfully with underwriters by reviewing underwriting considerations and anticipating their needs.
  • Spot problems in your competitors' programs or proposals and use IRMI as third-party support of your discoveries and related recommendations.
  • Identify and utilize the best markets for management liability, E&O, and professional liability insurance with the up-to-date market directory.
  • Avoid errors and omissions arising from tricky claims-made policies using the explanations, analysis, and recommendations provided.

Risk Managers, Financial Executives, & Insurance Buyers

  • Keep abreast of major developments in management, E&O, and professional liability exposures.
  • Determine how CGL and umbrella liability insurance covers or does not cover the management and professional liability exposures your organization faces and whether or not a specific policy is needed.
  • Evaluate and choose between competing management, E&O, or professional liability policy forms using the discussions and comparison charts.
  • Learn ways to prevent professional, management, or E&O liability claims.
  • Understand the activities, exposures, and coverage gaps when using claims-made liability policies.

Underwriters

  • Learn how you stack up against the competition with discussions of the policy forms and comparison charts.
  • Respond to requests for policy modifications with more insight as to the appropriateness and comparison to competing policies.
  • Teach new underwriters about professional liability exposures and how to underwrite them.
  • Get advice to provide to agents, brokers, and insureds on ways to prevent claims against professionals.

Claims Adjusters

  • Use the layman's language explanations of coverage provisions to develop perspective into coverage intent and as support for your arguments for or against coverage.

Attorneys

  • Includes 962 case citations, a 97 percent increase since 2007.
  • Keep abreast of major claim sources against professionals.
  • Learn how to advise clients on ways to prevent claims against professionals.
  • Gain insight into common variations among different insurers' forms with respect to exclusions, covered damages, claims-made provisions, and much more.
  • Use the layman's language explanations of coverage provisions to develop perspective into coverage intent and as support for your arguments for or against coverage.
  • Understand the resources available to insurance agents and brokers to help them properly arrange coverage for professionals.
  • Demonstrate coverage best practices to the court to help you win your agent/broker E&O cases.

Consultants

  • Keep abreast of major claim sources against professionals.
  • Learn how to advise clients on ways to prevent claims against professionals.
  • Gain insight into common variations among different insurers' forms with respect to exclusions, covered damages, claims-made provisions, and much more.
  • Get ideas for coverage enhancements to recommend for your clients.
  • Use as support and a second opinion in your litigation consulting work.
Bonus Publication Icon

Your purchase of Professional Liability Insurance comes with access to the Contractor's Guide to OCIPs, a handy reference that provides guidance on 39 issues contractors should consider when accepting coverage through a wrap-up or controlled insurance program. This publication was prepared by the OCIP Task Force of the AGC of America.

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