New Professional Liability Insurance -- A custom-designed group professional liability insurance policy for consultants who are Chemists or Chemical Engineers. The plan is under written by Lloyd's of London and is jointly sponsored by the American Chemical Society and the American Institute of Chemical Engineers.

Five Reason Why Consultants Need Professional Liability Insurance

1. If you were accused of making and error or omission in your professional capacity, you could be sued.
2. If you are sued, you would automatically suffer a financial loss.
3. If you were to lose a suit you could be responsible to pay damages or fines.
4. A lawsuit filed against your consulting business will usually name both your business entity and you as defendants.
5. Clients often require that the consultants they hire furnish proof of professional liability insurance.