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OptometristProfessional Services is a broad term in the insurance industry. It can be discussed in relation to product, industry, small to medium to large premiums, specialty companies, and more. Regardless, if you say "Professional Services" out loud it has a nice ring to it. Would you not agree?

Last week at a coffee meeting with a financial planner, who refers business to our firm, I mentioned our model is built to target Professional Services, "Aren't we all," he said, laughing. As I explained to him some of the most respected fields are the most underserved in the insurance business, his laughter stopped; he seemed puzzled and wanted to know more. He assumed that the clients who would fit under the Professional Services term would be one of the most sought after, and best served clientele. It's an ugly truth, but his assumption is incorrect. While this is not always the case, more often than not, we're talking to professionals who are so busy being successful, they know very little about their coverages, limits, and what holes they need to fill to protect themselves, their employees, their clients/patients, and the future success of their practices. What's worse is many agencies serving these clients never follow up; they dump the client into a call center for servicing, and these professionals have no clue if they have what they need.

Let's now discuss the who, what, and why!


  • Dentists
  • Optometrists
  • Chiropractors
  • CPA's
  • Podiatrists
  • Veterinarians
  • Lawyers

What Coverages Are We Looking To Help With?

  • Professional Liability/Malpractice
  • General Liability
  • Worker's Compensation
  • Fiduciary Liability
  • EPLI - Employment Practices Liability Insurance
  • Commercial Umbrella

Why These Professional Services?

So, why is this an underserved market? It has nothing to do with Professional Services not being profitable or an unattractive risk. Quite the opposite. Frankly, Professional Services are profitable (from a claims perspective). However, this market can be fairly labor intensive for the lack of revenue it generates compared to other commercial accounts. More importantly, it doesn't pay the revenue/commission you'd think it might — which is the key reason why this is an underserved market! Many commercial insurance firms (and some banked owned insurance firms) are telling their commercial agents to focus on companies that will have annual premiums north of $20K, $50K and higher. Why? Simply stated, because it generates more revenue; this is not a bad thing, it just may not serve the client in the long run. With that said, the majority of clients paying for Professional Services Insurance don't pay anywhere close to premiums of $20K +. Thus, if such commercial firms and bank owned firms do write one of these Professional Services clients, they typically outsource the client to a customer service center. Why? Because it's more cost efficient, and their agents can continue to focus on the larger accounts, and not worry about servicing the smaller Professional Service accounts.

Raymond Preston & Reed, LLC is committed to serving those in the Professional Services space, by providing sound advice, competitive pricing, industry leading insurance products and serving them locally with one agent and account manage — with the promise to hear from us at renewal. Most importantly, we pride ourselves on providing the service you'd expect regardless of how much premium you pay!

Bottom Line: If you feel like you are not receiving the service you deserve, contact us. If you are unsure of your current coverage, and want objective advice about needs and options, please call us at (615) 866-2728 or contact us online. We love working with our clients in the Professional Services industry!
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Brentwood, TN 37027
Phone: 615.866.2728
Email: info@rprinsurance.com
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