03 Jul Can You Be Sued For Giving Advice? Yes. Protect Yourself With Professional Liability Coverage
As a professional you make every effort to give your clients professional advice and service. Your clients are happy and you have a wonderful business that you have built from the ground up.
What would happen to all of your hard work and years of effort if suddenly a negligence claim was made against you?
A legal claim against you and your business could wipe out years of hard work and be financially devastating. One of the best ways to guard against this possibility is to cover yourself with a Personal Liability Insurance policy.
You may have heard this type of policy referred to as an errors and omission (E&O) policy. These policies protect an individual who gives professional advice and services.
You may already have a general liability policy and you could be under the assumption that you are covered in case of an event. The truth is that a general liability policy generally only covers property damage and bodily harm. Your general liability coverage may not protect you if a claim is made due to a fault with professional advice given.
Professional Liability coverage is usually a policy that is based on a claims-made during the policy period.
We live in a time when it seems that no profession is protected from those seeking quick profits by suing companies or individuals. At Spivey Insurance, our goal is to protect our clients in the event you face one of these types of legal actions against you.
Some of the professions we recommend purchasing professional liability policies are accountants, bookkeepers, insurance agents, those in the medical profession etc.
It’s a fact of life that we are all human and we all make mistakes and errors. Should that error deal you an unrecoverable financial blow?
You need a policy that can pay for attorney fees and defense costs. Settlements and court costs also have to be considered in the coverage you get.
We can offer you a plan that is tailored to your needs as a professional. You may actually face a frivolous lawsuit that is completely without merit but the fact remains that you must protect yourself.
Do you need professional liability coverage in Charlotte or do business in this region? Give us a call and we will devise a plan for you that is unique to your needs and specifically fit to your occupation.
In the video below, Jim Short, a specialist in the field of personal liability offers some quick tips as to why you may need to purchase this type of insurance coverage.