Putting together the right kind of insurance policy for your clients is an art form. With as many clients as you have likely handled, you know that each one is different. The risks associated with various professions differ depending on factors such as business size, number of customers, and even location. Why do some customers need certain kinds of policies? Why do professionals like lawyers need attorneys professional liability policies?
Privacy and Advisory Risks
With professional occupations such as attorneys, doctors, and real estate agents, there is a lot of private information handled every day. In addition to private information, people like attorneys give advice on what they think a client should and should not do. There are contracts that are often drawn up and signed. While it might seem straightforward, if a client is negatively impacted by the advice that an attorney gives or by something that is or is not stated in a contract, that client may sue the attorney.
People make mistakes. From typographical errors to misinterpreting a situation, even professionals are susceptible to gaffes now and then. Lawsuits are no small thing to deal with, which is why attorneys professional liability insurance is necessary. If you have a client in the profession of law, talk to a broker about customizing a professional liability policy. Your client will likely need it just in case.