ALL California employers must provide coverage for their California employees
Professional Liability Insurance for California's Professional Service Businesses and More
Or call us at (818) 735-7600
Professional Liability Insurance In California
Professional Liability Insurance for California hits close to home here at JVRC Insurance. It is such a crucial part of our business and covers some of our largest exposures. As a professional, I’m sure you know the liabilities that come with providing a professional service. If you are in the business of providing a service to your client for a fee, you are vulnerable to professional liability risks.
For some businesses, General Liability can cover the majority of their exposures. However, for professionals, general liability leaves a major gap in coverage. Professional Liability is generally excluded on GL policies. You can either acquire this kind of policy individually or combine a General Liability and Professional Liability policy together to fill that void.
A professional liability policy can be labeled a couple different ways such as Errors and Omissions and Malpractice Insurance. Errors and Omissions Insurance (E&O Policy) is considered the same thing, however Malpractice Insurance generally refers to the medical field, such as doctors, dentists, chiropractors, and surgeons.
Professional Liability insurance in California is structured heavily on industry specific needs. There is generally a “special” program for any type of professional business that provides specifically designed limits for your type of business covering particular exposures. JVRC Insurance can obtain these “special” programs and design a California Professional Liability Insurance policy that is just right for you.
What is the difference between General Liability and Professional Liability you ask? Well General Liability generally provides protection for physical harm done to a person or property. Professionals however are trained and certified for a particular area of expertise and if they fail to use that degree of skill, they can be held liable for negligence, misrepresentation, inaccurate advice, and much more which can be covered by a California Professional Liability policy.
Contact Us for Your Professional Liability Insurance In California
If you’re interested in more information about Professional Liability Insurance California cost, would like us to review your current professional liability situation, or just simply have some questions, contact us at (818) 735-7600 today!
Get a Business Insurance Quote
Frequently Asked Questions about Business Insurance
Why is California Workers Comp Insurance so expensive?
Largely because of claims that occur, experience modifications, fraud and payroll amounts statewide
Where do we get the information we post on our blog site?
The Department of Insurance website, The WCIRB, The Insurance Journal and many other trusted sources
What is an experience modification?
It’s a percentage that compares the payroll and loss history of your company to a similar-sized company within the same industry. For example, if a company has a better than average loss record, their experience modification would be less than 100%. If that is the case you would receive a credit on your Workers Comp rates. If that is not the case however it would result in the opposite, an increase in rates. The experience modification can be closely compared to an individual’s credit score.
Why is Workers Compensation Insurance a necessary requirement?
It is illegal in the state of California to not carry it. There will be penalties, fines and many other consequences if a worker is injured and you do not carry it. Furthermore if there is a claim and you do not have California Workers Compensation Insurance at the time the employer is still liable for all costs relating to the injury which can be devastating to any company.
How does your insurance carrier determine what your experience modification number is?
This is calculated based on your payroll, premium paid and by your reported losses for the last three consecutive years
Who regulates and makes California Workers Compensation laws?
The Department of Insurance regulates the laws and the State Senate makes them
What is a Classification or a class code?
It’s a component used determine the price an employer pays for their workers’ comp insurance premium. Classifications are established for each industry and typically include all jobs or operations within a particular business.