Miscellaneous Professional Liability Insurance Fundamentals

This course teaches the fundamentals of professional liability insurance with a deep dive into Miscellaneous Professional Liability policies. Regardless professional qualifications and best intentions, things can go wrong.  MPL insurance protects the insured from suffering financial loss as a result of third-party claims alleging negligent performance of professional services. 

 

Miscellaneous Professional Liability
Pointers

What You Will Learn

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Understanding liability

What does it mean to be liable and to whom is a professional liable?
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Insurance Coverage

How does Miscellaneous Professional Liability insurance work, what coverage options are available?
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Risk mitigation

What creates risk and what can be done to minimize the chance of a claim?
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What to buy

What policy, what coverage, how to determine how much insurance to buy?

Learning Objectives

Upon completing this course you’ll be equipped to:

  1. Explain what it means to be liable;
  2. Evaluate the policy coverage and available options;
  3. Describe what to do and expect in case of a claim;
  4. Upgrade the way you do business in order to minimize the chance of a claim;
  5. Advise on what to keep in mind when buying MPL insurance.

Course Curriculum

  • Welcome message
  • Course objectives
  • Downloadable material
  • Chapter objectives
  • Who is a professional?
  • What are professional services?
  • Quiz instructions
  • Quiz
  • Chapter objectives
  • What is liability?
  • What is liability insurance?
  • Professional liability insurance
  • Sources of liability
  • To whom is a professional liable?
  • Quiz
  • Chapter objectives
  • What is miscellaneous professional liability insurance?
  • The MPL insurance policy
  • Who is the insured?
  • What’s covered by an MPL policy?
  • Coverage enhancements
  • What’s not covered?
  • Quiz
  • Chapter objectives
  • What constitutes an MPL insurance policy claim?
  • What is a ‘claim’ under an MPL policy?
  • What is a ‘wrongful act’ under an MPL policy?
  • What is a ‘loss’ under an MPL policy?
  • Claims examples
  • Understanding policy reporting requirements
  • Claims-made policies
  • Claims-made and reported policies
  • What does ‘as soon as practicable’ really mean?
  • Reporting an MPL claim to the insurer
  • How MPL claims are handled
  • What to expect from the MPL claims process
  • Quiz
  • Chapter objectives
  • What creates claims risk?
  • How you run your business
  • How you work with clients
  • Implementing legal safeguards
  • Navigating change
  • Quiz
  • Chapter objectives
  • Why buy MPL insurance?
  • MPL vs. CGL
  • What to buy?
  • What should be covered?
  • Who should be covered?
  • How much coverage is required?
  • How does the policy structure liability limits?
  • Premiums and deductibles
  • How is premium determined?
  • Policy terms and conditions
  • Policy length
  • The application process
  • Understanding your MPL application
  •  Selecting an insurer
  • What to expect from your insurance broker
  • Managing your insurance
  • Quiz
  • Message from the instructor
  • Miscellaneous Professional Liability Insurance Fundamentals Final Assessment
  • Course survey

About ITC courses

ITC takes pride in delivering high-quality, unbiased courses on professional and management liability insurance and related topics. Designed specifically for online delivery, our courses are interactive, include activities and quizzes, use practical illustrations and real-life case studies and deliver knowledge in bite-sized portions so even just 5 minutes is learning time well spent.

How we build courses

ITC courses are the product of a collaborative approach. We work closely with subject matter experts to build out course content, the ITC design team brings that content to life, and no course is published before undergoing an intense review by an industry panel. Our process also includes post-publication reviews and updates because ITC is committed to delivering quality courses that remain accurate, relevant and up-to-date, long after they are first published. 

 

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Most insurance courses are either pitched at people learning about the subject for the first time or jump straight into advanced topics. The ITC courses do a great job for all learners and I particularly liked the online format since you can either spend time starting from the beginning or quickly move on to the areas of most interest to you. The course material also went beyond insurance policy language – addressing risk management, claims processes, what buyers should consider, and more.

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Miscellaneous Professional Liability Insurance Fundamentals

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