Competitive Professional Lines Insurance with AHI Group
Get Affordable Coverage as a Professional Lines
As a professional service provider, you offer high value services or advice – which could also mean that your clients are at a greater risk of loss. It’s important to find an insurance representative that is committed to assisting you in finding insurance solutions customized to your specific needs. Whether safeguarding against professional liabilities or navigating legal intricacies, the right insurance coverage empowers professionals to manage their responsibilities with confidence.
AHI Group are dedicated to serving professional service providers better by finding them affordable insurance that meets their needs. In today’s litigious world, cyber liability insurance and employment practices liability insurance (EPLI) are both crucial to protecting your bottom line.
Cyber and EPLI Insurance for Professionals
Cyber Liability Insurance
Cyber liability insurance, or simply cyber insurance, is crucial coverage for professionals who leverage tech in any way, shape, or form. It offers financial protection for businesses in the event of data breaches, cyber incidents, and cyberattacks. It can cover any costs associated with notification to affected parties, potential damages from lawsuits, legal expenses, costs associated with data recovery, and beyond. For professional businesses of all sizes, this insurance is crucial.
Employment Practices Liability Insurance (EPLI)
Employment practices liability insurance, or EPLI, is a must-have for insuring organizations small and large against costly litigation. This type of insurance is intended to insure both the organization and any of its insured persons (directors, officers, independent contractors, etc.) for legal costs arising from claims of discrimination, defamation, mismanagement, wrongful termination, etc., relating to the employment of a potential, current, or former employee.
Who Needs Professional Lines Insurance?
Professional services insurance isn't just protection—it's a strategic defense for professionals navigating their industries. Tailored to address unique challenges, it's essential for ensuring the success and security of service-based businesses. Here are some examples of professionals we insure:
- Consultants
- Marketers
- Lawyers
- Accountants
- Financial planners
- Graphic designers
- Investment managers
- Public relations
- Engineers
This is but a small sample list of the different professionals who may benefit from having liability insurance tailor-made to the unique risks that professionals like consultants, lawyers, accountants, etc. may face in their daily operations. Give us a call.
Professional Lines Insurance FAQs:
FAQ1: What does EPLI not cover?
EPLI is designed to cover the organization and any insured individuals for any legal defense costs, settlements, and judgements which can result from claims of privacy violations, discrimination, wrongful termination, mismanagement of employee benefits, breach of employment contract, and more.
FAQ2: Is cyber liability insurance mandatory?
No, but it is recommended if your business uses tech to any amount. In just 2023 alone, the average cost of a data breach in the United States came out to around 9.5 million U.S. dollars, which was an increase from the previous year.
FAQ3: Is it necessary to purchase EPL insurance?
While it’s not mandatory to purchase EPLI, it’s recommended all organizations with employees do so as any employer can be subject to demands by potential, former, and even current employees for actions that could be alleged retaliatory, hostile, or even discriminatory.
Connect with an AHI Commercial Agent
As a professional, you offer a highly valued service or advice that your clients simply cannot do without. If something were to go wrong, you could be left on the hook for the costs. As prepared as you are, and as diligent as you are in all your practices, claims still happen. As licensed professionals in Kansas, Nebraska, Texas, and numerous other states, AHI can help find you cyber and EPLI options to cover your business for less.
If you have any questions about your coverage as a professional, or want to inquire about the benefits of either cyber insurance or EPLI, please give us a call. We’re more than happy to go over your policy with you, help identify potential coverage gaps, and keep you protected.
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