What is it?
Professional Liability Insurance will protect your business from accusations of errors, omissions, or negligence committed within the scope of your profession as an Engineer. It’ll cover your damages—legal expenses, administrative costs, and court settlements—even if the claims made against you are groundless.
Why do we recommend it?
Depending on your field and where you practice, Professional Liability Insurance may or may not be mandated by a regulatory body. But even if it’s not a requirement, there are countless reasons why Professional Liability Insurance is critical for Engineering firms.
No matter how careful or cautious you are, errors are inevitable in the design process. Maybe you were misled by a subcontractor or a designer misread your plans. Or maybe you just gave a client some general advice or direction. But in your line of work, even a single miscalculation can have devastating consequences. While not every engineering failure leads to damage or injury, small errors can still compromise a project and cost you time, money, and reputational harm. And keep in mind: a client doesn’t always need grounds to sue. As long as they believe you’re at fault, they can take you to court. Without the right policy, you’ll have to shoulder the expenses out-of-pocket.
Common Professional Liability claims for Engineers include:
- Design errors;
- Under-design or design flaws that lead to costly repairs;
- Documentation errors;
- Insufficient field review;
- Project delays or scheduling issues;
- Budget issues;
- And more.