This article was written by Michelle Aliperti-Urbielewicz in 2017. It does an excellent job explaining why Miscellaneaous Professional Liability is something to think about.
Imagine this: You operate a call center that provides 24-hour service to a number of different businesses, including tow truck operators. Call volume is heavy, and callers are often placed on hold and at times, even disconnected. As a result, certain customer information received by the call center was lost, incorrectly communicated or delayed in transmission to the client. Consequently, some businesses cancelled their contracts with the tow service, which resulted in a loss of more than $150,000 in revenues. Upon discovery, the tow truck company fired the call center and filed suit, alleging negligence in handling the calls and seeking recovery of lost profits.
Unfortunately, a situation like this is all too common in today's litigious society. And despite the occurrence of these situations, it's a common misperception that purchasing Miscellaneous Professional Liability (MPL) coverage isn't necessary. However, this misperception can't be further from the truth.
I have heard some businesses give the following eight reasons when they consider cutting their MPL coverage. Here, I'm going to tell you why those reasons could have disastrous results:
If you would like to learn more or receive a quote, drop me a line.