Why Is Professional Liability Insurance Important?

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Moody Insurance

Organizations and companies alike vest a lot of decision-making power and autonomy in their executive officers, but many people who are new to running a formally structured entity like a corporation or non-profit overlook insurance that provides for the liability incurred by these key personnel. That’s brokers like Moody Insurance work to provide access to professional liability coverage and to educate clients through resources explaining how it works.

Protect Executives and Your Company

Executive protection insurance fills a gap in coverage between the liability coverage your company takes out and the actions individual operators can take on behalf of the organization. Ignoring it as a core need means having no resources to back up any promises of indemnification you make to executives, and that affects the costs of other policies and bonds you may need to operate. Working with a business insurance provider whose experience includes a lot of organizations like yours means gaining the benefit of their experience when it comes to calibrating your coverage. They also help you put everything into one place, so you can streamline the payment process and simplify your points of contact for your insurance coverage.

As your organization grows, a simple but effective strategy for managing your insurance coverage makes it easier to update. That means you’ll have an easier time going through the regular reviews that will show you whether you’ve got the right coverage in the right spots.

This post was written by , posted on November 11, 2019 Monday at 11:04 am