Business Insurance

Commercial Insurance | Business Insurance | Wappingers FallsAt Kaplan Insurance we offer industry leading Business Insurance policies at competitive prices to Wappingers Falls and the businesses and commercial properties in Duchess County. We are committed to helping you find the right policy for you, at the right price.

Professional Liability Insurance For Your Business

What is liability insurance, and why is it a necessity? Liability insurance is essentially a way for you to protect your business against frivolous lawsuits. It is no secret that the U.S. is a highly litigious society; all you have to do is look at the number of lawyer commercials running on TV. As a result, there are quite a few people who are looking to make a fast buck, and they will not hesitate to get a lawyer to file a frivolous lawsuit against a business, maybe even yours. Liability insurance, or business insurance, is one of the best ways to shield your business assets from such an unethical plan.

What is it?

While there are various forms of liability insurance such as general liability, auto liability insurance, employer liability, directors & officers liability, and professional liability we will focus on professional liability insurance for your business. Professional liability insurance is insurance meant to allow professionals to offer their services to various clients without being impeded because of fears of frivolous lawsuits coming their way. As many professionals know, there are just some clients who cannot be pleased, no matter how hard they try. As a result, some unhappy clients may plot to take things much too far by retaliating through a frivolous lawsuit. Such a lawsuit will allege that the professional has been negligent or erroneous in the provision of his or her services. A liability policy helps professionals and their companies pay for defense expenses and, in some cases, even judgments that arise from these claims.

Types of Professional Liability Insurance

There are various kinds of professional liability insurance. There is insurance for engineers and architects alike, for dentists and for accountants. There is also commercial liability insurance, which is insurance for businesses against any lawsuits that come in response to their products or services. There is also employment practices liability (EPLI), miscellaneous errors and omissions liability, liability insurance that protects officers and not-for-profit directors, and tech services omissions & errors liability.

How does it work?

Generally speaking, professional liability insurance plans work on the basis of claims made. This means that a policy will usually only cover claims that happen during the period of the policy. Particularly, the policy may not offer protection to situations that arose before the policy actually kicked in. Still, a minority of policies do offer a retroactive date, which refers to claims occurring during the policy period, yet, which are connected to a circumstance after the retroactive date, are still covered.

If you are a professional working at a business, it is recommended that you buy professional liability insurance. Buying such a policy is a lot cheaper than having to shell out a lot of money for damages awarded to a claim. Typically, the damages paid out for liability claims can reach up to hundreds of thousands of dollars. It is better to let the insurance company deal with such claims rather than have to pay out of your own pocket for a claim brought by an unhappy, former client.

For a personal discussion of your Business Insurance requirements contact Alan Kaplan in Wappingers Falls, NY.

Homeowners  | Auto | Business

Photo Credit: Flickr

Call today for a free quote 845-297-3266 or email us at

Kaplan Insurance Agency Inc. | 12 Barrister’s Row - Wappingers Falls, NY 12590