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Why an MPL quote should automatically be included with every small commercial risk

by Semsee HQ on

As an insurance agent, you know that your small commercial customers need MPL (Miscellaneous Professional Liability) coverage to protect themselves against financial losses that may arise from claims of errors, omissions, or negligence in the professional services they provide. Professional liability risks can arise in a wide range of industries and professions, including technology, healthcare, finance, law, and consulting. Even small mistakes in providing professional advice or services can lead to significant financial losses, which may result in costly litigation against your client.  Not to mention that not offering an MPL quote could put you at risk if a loss occurs not covered by the policy you advised them to purchase.


Remember, your clients may not be aware of the potential risks associated with professional services, or they may assume that their GL policy covers all their liability risks - especially younger generations or business owners that admit they are not as familiar with the complexity of insurance coverages. By including an MPL quote, an insurance agent can help their client better understand their potential exposure to professional liability risks and the importance of having appropriate insurance coverage.

Additionally, offering an MPL quote to every client is a great opportunity for agents to upsell and cross-sell other insurance products that the business may need. Agents can provide valuable insights and advice to your clients, regarding their specific insurance needs.  By offering a bundled insurance package, an agent can potentially increase the value of the sale and strengthen their relationship with the client by acting as an advisor, helping the client grow their business and looking after their best interests.

Ultimately, by including an MPL quote with every small commercial risk, an agent is providing their client with a more comprehensive insurance solution that covers both its general and professional liability risks,  protecting itself from potential financial losses resulting from professional liability claims. This can help the business feel more secure and protected, and it can also help the insurance agent differentiate themselves from competitors who may not offer the same level of expertise and service.