Insuring the Professional, Scientific and Technical Services Sector

Insuring the Professional, Scientific and Technical Services Sector
(Everything you need to know about finding the right coverage)

The professional, scientific and technical services industry, as its name implies, is made up of a wide range of businesses that provide clients with professional, scientific or technical services. These businesses can range from accounting offices to interior design firms to freelance interpreters.

There are currently 2,256,003 American business establishments that have been classified as falling within the NAICS’s professional, scientific and technical services industry sector. 

If you are the owner of one of these businesses, it is important that you shield your investment from potential financial losses by insuring it with a commercial insurance policy that is designed specifically for the professional, scientific and technical services industry.

Business Types in the Professional, Scientific and Technical Services Industry

The National American Industry Classification System (NAICS) classifies all businesses in the United States into one of several different industry sectors and subsectors. This classification system enables economists to easily collect, analyze and report on financial data for various business industries.

The professional, scientific and technical services industry is one of the largest of the business sectors classified by the NAICS. It includes the following business types:

Legal Services, including

  • Offices of Lawyers
  • Offices of Notaries
  • Title Abstract and Settlement Offices
  • All Other Legal Services

Accounting, Tax Preparation, Bookkeeping and Payroll Services, including

  • Offices of Certified Public Accountants
  • Tax Preparation Services
  • Payroll Services
  • Other Accounting Services

Architectural, Engineering and Related Services, including

  • Architectural Services
  • Landscape Architectural Services
  • Engineering Services
  • Drafting Services
  • Building Inspection Services
  • Geophysical Surveying and Mapping Services
  • Non-Geophysical Surveying and Mapping Services
  • Testing Laboratories

Specialized Design Services, including

  • Interior Design Services
  • Industrial Design Services
  • Graphic Design Services

Computer Systems Design and Related Services, including

  • Custom Computer Programming Services
  • Computer System Design Services
  • Computer Facilities Management Services

Management, Scientific and Technical Consulting Services, including

  • Administrative Management and General Management Consulting Services
  • Human Resources Consulting Services
  • Marketing Consulting Services
  • Process, Physical Distribution, and Logistics Consulting Services
  • Environmental Consulting Services

Scientific Research and Development Services, including

  • Research and Development in Biotechnology
  • Research and Development in the Physical, Engineering and Life Sciences
  • Research and Development in the Social Sciences and Humanities

Advertising and Related Services, including

  • Advertising Agencies
  • Public Relations Agencies
  • Media Buying Agencies
  • Media Representatives
  • Outdoor Advertising
  • Direct Mail Advertising
  • Advertising Material Distribution Services

Other Professional, Scientific or Technical Services, including

  • Marketing Research and Public Opinion Polling
  • Photography Studios, Portrait
  • Commercial Photography
  • Translation and Interpretation Services
  • Veterinary Services

Coverage Options for the Professional, Scientific and Technical Services Industry

Companies in the professional, scientific and technical services industry typically handle a lot of confidential client information and data. In many cases, their actions can directly impact the financial or physical well-being of their clients. 

As such, there is a significant risk of liability charges in this industry. Commercial insurance policies offer a number of different coverage options so that business owners can create a policy that is suitable to meet their specific needs.

Some examples of coverage options that may be most important to owners of businesses within the professional, scientific and technical services industry include:

  • General liability insurance: This coverage is designed to protect your business in the event that a client or other third-party individual is injured or suffers property damage on your business premises. This coverage is often bundled with contents insurance with commercial insurance policies.
  • Errors and Omissions insurance: Also referred to as professional liability insurance, this coverage is among the most critical for businesses in the professional, scientific and technical industry. It is designed to protect your business from charges of professional negligence or failure to perform your professional duties in the event that your actions, or inactions, lead to financial losses for your client.
  • Cyber liability and data-breach insuranceIn the event that your business is targeted by a hacker or other cyber-criminal, or if software that you have provided to a client is vulnerable to attack, you may be deemed liable for confidential and critical information getting into the wrong hands. This coverage is designed to provide third-party coverage and can shield your business from significant financial losses brought about by lawsuits in the event that you are sued.

These are just three of the many coverage types that are available to you when you build a commercial insurance policy to protect your business. It is worthwhile to discuss your insurance needs with a professional who can make appropriate recommendations and help you find all the coverage you need.

Build a Suitable Commercial Insurance Policy with the Help of AIA

Because of the many different coverage options offered by commercial insurance plans, it can be difficult to decide which ones are right for your business and which ones you can go without. Save time, money and aggravation by working with an independent insurance agent in our network. 

Our agents can answer your insurance-related questions, help you assess your business coverage needs, and advise you about suitable coverage amounts. Best of all, because they are not captive to any one insurance provider, our agents can comparison shop to find you suitable and competitively-priced policies.

Contact Us Today for a Quote!



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