In your personal life, you’ve probably given a friend or family member bad advice. It can happen, and it’s no big deal. But in your professional life as an Independent Claims Adjuster, giving bad advice can have serious financial and reputational consequences.
That’s why Wingspan offers Claims Adjusters the ability to purchase Professional & General Liability Insurance, which is underwritten by Evanston Insurance Company, a Markel company. In this article, you’ll learn what Professional and General Liability Insurance is and how it safeguards you and your business.
What is Professional & General Liability Insurance?
Professional & General Liability Insurance protects your work and reputation. Let’s break down how it does this.
Professional Liability Insurance can help if you:
- make a professional mistake or are negligible
- are involved in a TCPA or FCRA violation (additional coverage required)
General Liability Insurance can help if you:
- cause property damage
- cause third-party bodily injury
Here’s more of what you need to know about the policy:
- This is a claims-made policy, meaning that claims must be first made and reported during the policy period (or any applicable extended reporting period)
- Coverage is subject to policy terms, conditions, limitations, and exclusions
- Available to eligible Independent Claims Adjusters
- Surplus lines notice where applicable; coverage may not be subject to state guaranty funds
Does Professional & General Liability Insurance protect you financially?
Yes! This insurance can reimburse your legal fees, pay for property damage, and more.
Professional Liability covers:
- up to $1,000,000 per claim or $2,000,000 in aggregate
- legal fee reimbursement for disciplinary proceedings
General Liability covers:
- up to $1,000,000 per occurrence or $2,000,000 in aggregate
- $25,000 worth of damage to rented premises
- $2,500 in medical expenses per person
How much does it cost?
It’s a fixed cost of $80 per month, not including a one-time $50 initiation fee (subject to change).
Payment couldn’t be simpler, as it’s deducted monthly from your Wingspan earnings (or a payment method on file if you didn’t make sufficient earnings). Payments can be paused for up to six months, if needed.
How do you sign up?
No need to wait for a broker to return your call, as you can enroll in minutes. Even better, your coverage starts immediately. Don’t wait to protect your business – sign up for Professional & General Liability Insurance today on Wingspan.
*This information is not intended to provide, and should not be relied on for, tax or legal advice. Professional & General Liability Insurance underwritten by Evanston Insurance Company, a Markel company. Claims-made coverage (claim must be made and reported during the policy period or applicable ERP). Limits: $1M/$2M. For eligible Independent Claims Adjusters. Surplus lines where applicable. Subject to policy terms, conditions, limitations, and exclusions.
