Any profession comes with risks and exposures, no matter how safe or danger-free an industry may be. Litigation doesn’t always stem from a failed device or by negligence on the operating table. Consultants who are hired for their expert advice are susceptible to claims of errors and omissions or breach of contract from clients who have not had a good experience.
Exceptional Protection for Industry Experts
Consultants are hired to assist with business decisions or policy-making because of their reputation as an expert in the field. When a business makes a decision on the counsel of their advisor and subsequently loses thousands of dollars, many companies will hold the consultant liable for the loss. The costs of dealing with litigation can threaten a consultant’s business. A consultant liability policy can help.
Errors and Omissions for Consultants
Professional liability coverage is also known as errors and omissions coverage. These policies address the accident decisions or actions that could cause damage or loss to clients. These policies do not protect a consultant when intentional and criminal behaviors took place, but it does offer protection against claims of incompetence and negligence during services.
An E&O policy for a consultant can help with the costs of raising a legal defense, pay for all or part of a settlement or award toward the claimant, and often restores lost wages or reputation management costs. Don’t leave your expert advice without expert protection.