Have you heard about the student who is suing his professor for giving him a “B+” rather than the “A” he thought he deserved? What about the professor who believes he was wrongfully terminated because of student complaints about his teaching methods? Or have you heard about the faculty members who were fired at different universities because of “controversial” remarks they made and their tenure is in question, too?
These are real situations that have impacted university faculty and professors. And they all bring to light the increasing risk university faculty members face every day: the risk of being sued or fired related to their professional services.
Whether a lawsuit is founded or not it can be time-consuming and expensive to defend. Even if your university provides some liability insurance as part of your employment, it may not provide enough coverage to protect all your personal assets. That’s why many financial experts recommend that individuals who provide professional services carry their own personal professional liability insurance.
What is Professional Liability Insurance?
Professional liability insurance (also known as Errors and Omissions (E&O) or malpractice insurance for medical professionals), protects you and your assets against claims—whether frivolous or fact—involving your professional services.
It helps cover the costs of defending a claim against you and pays damages if you’re found liable. Without professional liability insurance, your good name, reputation, and personal assets could be exposed if you’re sued.
Where can you purchase an individual policy?
There are various resources available from which to obtain a professional liability insurance policy. You may already have a local insurance sales agent for your home, health and/or car insurance, and your agent may have access to this type of policy. In addition, you can obtain policies online or directly through insurance companies or third-party brokers who have an office in your area.
The key is to find a resource you can trust that is financially stable, understands the professional services you provide, and offers you an affordable, competitive rate.
An AAUP Solution
As an AAUP member, you have access to a comprehensive and affordable professional liability policy through Marsh U.S. Consumer. The AAUP Professional Liability Insurance Plan provides coverage for the following:
• Negligence
• Misrepresentation
• Inaccurate advice
• Errors or omissions
Plus, it protects you for specific actions including the dismissal or disciplinary action as a faculty member (tenured or not); evaluations of students; judgments regarding salary, promotion, or work assignments of colleagues; published works; and more.
For more details about the AAUP Professional Liability Insurance Plan, simply call 1-800-686-1172 or visit www.aaupmarshinsurance.com.
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