As a professional services provider, you work hard to protect your business, reputation, and bottom line from any number of liability risks. Whether you are an architect, accountant, construction consultant, programmer, real estate professional, or lawyer, your clients rely on your skill and knowledge to avoid problems at all costs. Your clients solely rely on your ability and expertise, and you do your best to assist them. While you are looking after the best interest of your clients, you will need a trusted insurance professional that will help you look after yours as well.
Just like a doctor needs malpractice insurance, other professionals who are paid for their professional expertise need protection, too. Consulting and advising clients always leaves businesses vulnerable to claims of negligence. Fortunately, NAU’s Professional Liability insurance, (often called Errors & Omissions) covers various types of potential exposures that are not always covered under your business’s general liability policy.
A professional liability policy provides coverage against claims of negligence or mistakes that result in financial loss to another person or company, such as negligence, misrepresentation, violation of good faith, design errors, incorrect advice, and more. When a claim is filed, insurance will cover the obligation to pay damages for covered claims. It also provides legal defense costs, which can be extensive, even where there has been no wrongdoing on your business’s part.
Unfortunately, we live in a litigious society, and expensive lawsuits can be overwhelming for business owners and their finances. With high coverage limits and affordable monthly premiums, securing professional liability insurance far outweighs the alternative of not having reliable coverage to protect your business.
Despite you and your company’s best efforts, a client or customer may feel that they have been misled or mistreated by the advice your business has provided. NAU is your professional liability insurance company and will make sure you are protected against life’s unknowns. We serve real estate professionals, lawyers, accountants, home inspectors, consultants, and other professionals that need and deserve quality coverage.