Professional liability insurance, commonly referred to as Errors and Omissions Insurance (E&O Insurance), insures a person and/or an entity against claims made by third parties (clients, patients, customers, etc.), alleging negligence in the rendering of, or the failure to render, professional services.
Regardless of your level of training and/or expertise, there is always the possibility that you could be held personally responsible for an alleged error or omission arising out of your consulting services.
As a chemical consultant or chemical engineer, you should have your own Professional Liability insurance policy. Even if you receive Professional Liability coverage through an employer, odds are you will not be insured for any independent consulting work or training/instruction you perform outside the scope of your official position.
The ACS/AICHE Professional Liability Plan is specially designed for Chemists and Chemical Engineers protects the professional and personal financial interests of chemical consultants and chemical engineers. The plan is underwritten by Lloyd’s of London and is administered by Hays Affinity Solutions.
For more information visit the Hays Affinity Solutions website.