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Claims of negligence and wrongdoing are common for licensed professionals. Even when you do everything according to proper procedure, defending yourself against claims can cost thousands of dollars, so professional liability insurance—also known as malpractice insurance—is a necessity to protect yourself. Malpractice insurance protects you if a client accuses you of wrongdoing while providing a service and sues you for damages.
To determine the best malpractice insurance companies, we researched 17 well-known insurers serving licensed professionals in various industries. We evaluated companies based on available coverage, cost, optional discounts, AM Best financial strength ratings, and reputation.
Proliability is one of the few companies that serves multiple industries and offers both low-cost options and higher tiers of coverage. With decades of experience and an excellent reputation, you can also qualify for discounts to further lower your premium and make your insurance policy more affordable. This company does malpractice insurance and nothing else; they're our top choice for multiple industries.
Pros & ConsAvailable nationwide, Proliability has been serving clients since 1949. It provides professional liability insurance to a wide range of industries, including healthcare workers and business professionals. Whether you’re a physician, dentist, pharmacist, therapist, or lawyer, you can get coverage through Proliability for your business. It offers group protection as well as individual coverage, so you can get coverage for legal entities, ancillary professionals, and other employees. Proliability is our overall choice because they can represent the most classes at competitive pricing.
The company even has coverage options for students. Students doing clinical work can get student malpractice insurance for as little as $30 per month.
Proliability offers a range of coverage options depending on your industry, and you can choose between claims-made or occurrence-based coverage. The standard per occurrence limit of liability is $1 million, but coverage up to $5 million is available. You may qualify for a discount if you’re a member of a professional association, such as the American Association of Nurse Practitioners or the American Speech–Language–Hearing Association.
Proliability only offers professional liability coverage. It doesn’t have other forms of business insurance, and its policies do not include cybersecurity coverage.
Proliability is powered by Mercer Health & Benefits Administration, an AM Best A-rated company.
