Professional liability insurance, also known as errors and omissions insurance, is an important way for design and construction professionals to protect themselves from disaster. Both large firms and sole proprietors should consider finding good professional liability insurance for engineers in Indiana.
Omissions and Errors
This form of insurance is important because it helps protect against lawsuits by unhappy customers. Maybe there was a personal injury or a mistake made during the design process. Maybe an accident led to a pollution incident, or a structural defect caused serious problems. Maybe a lawsuit is entirely baseless, but somebody decided to sue anyway. Whatever happened, insurance can help cover the costs of legal action and even settlements, ensuring that misunderstandings, errors, and accidents don’t lead to financial ruin.
When seeking professional liability insurance, be sure to look for a provider that can create a custom tailored plan just for your firm. Also, it’s often a good sign if they offer risk management services to reduce the chance of something going wrong; these might include contract review, loss prevention programs, or assistance with claims.
Be sure to choose carefully when looking for professional liability insurance for engineers in Indiana. Picking the right carrier is a very important part of ensuring that your business stays safe in today’s lawsuit-happy culture.