Ask yourself these quick questions:

1. Are you a service provider?
2. Do you offer a service contract when selling a product?
3. Do you offer advice to clients?
4. Could a mistake by you or your employees cause financial loss to your clients?
5. Could a delay or interruption in the provision of your services impact your clients’ ability to generate revenue?
6. Do you complete transactions on behalf of clients?
7. Does your firm possess specialized knowledge for which clients hire you?
8. Do you make representations to your clients about your ability to deliver services?
9. Could the failure to complete a transaction or an error in the completion of a transaction cause financial damages to your clients?
10. Does your firm or do your employees need to be licensed to do business?

If you answer YES to any of these questions,

You have a professional liability exposure.

1. Insurance costs (unlike surprise lawsuits) can be budgeted & costs can be contained
2. General Liability policies don’t provide the needed coverage
3. Purchase defense costs as well as coverage for potential financial damages
4. Protect the firm, its management team, and its employees
5. Most client contracts today require it
6. Buy now to start the clock ticking, providing coverage for wrongful acts that occur after you buy your first E&O policy