What insurance would be needed to pay this amount? It is important to speak with an independent insurance broker who knows business. Professional liability insurance provides coverage for intentional or unintentional acts committed in business. These policies may also include 1099 independent contractors that is performing a service for a company.
The average premium for professional liability insurance varies by business industry, the most common is between $500 to $1,000 annually. The deductible can vary from $500 to $5,000 per claim.
Source: Nevada Attorney General