As a professional, in addition to your firm being exposed to general liability hazards, such as the risk of an injury to a customer visiting your premises, you also face exposures related to the specific services you provide. These exposures vary by profession and may result in allegations of financial damage by a client that result in claims against you, costing you both money and your good standing. For example, an attorney is the target of a lawsuit alleging conflict of interest in a case that didn’t go the client’s way. A real estate agent during a sales transaction mistakenly confirms a building is ADA-compliant based on an old report and is later sued by the new owner when upgrades need to be made.
These and other types of similar claims are covered by Professional Liability insurance, also known as Errors & Omissions (E&O) insurance. ISU-The Olson Duncan Agency is well versed in the many types of policies available, ensuring that your Professional Liability coverage is customized to your profession and the specific services you provide so that you are properly protected.