When you are a professional in practice, your everyday decisions have a huge impact on the people who rely on your services. It doesn’t matter which profession you’ve chosen, either. Doctors and lawyers both make choices that have a profound impact on the futures of their clients and patients. Financial advisors, wealth management professionals, and others with fiduciary obligations to customers have just as big an impact on their clients’ futures, too. With the broad variety of roles and professional specialties within these key fields, it’s no wonder custom E&O for these professions has become so popular.
Why Build a Custom Policy Around Your Practice?
While the needs of two professionals within the same field will be similar, they won’t be the same. Not only will coverage levels need to vary, but the realm of practice each professional takes up will dictate the exposure they face for decisions made on behalf of clients or recommendations made to them. That means a drunk driving or accident attorney will have very different E&O needs from a tax lawyer. It’s just not possible for a one size fits all policy to be everything to everyone in a single profession, much less across varied fields that rely on this coverage. Building the policy that fits your actual business model means paying for just the coverage you need. That, in turn, makes it easier to afford the coverage you actually need to feel your business is fully protected. Don’t compromise. Get the right professional liability insurance for your practice.