Denver Professional Liability Insurance
Today almost any business can find itself facing a liability lawsuit. Mountain Insurance Brokers provides Denver Professional Liability Insurance to many different businesses. A Professional Liability lawsuit can put assets at risk including company assets, cars, and other possessions. One simple mistake could cause financial devastation, as well as end your professional career. Many businesses don\u2019t think they have an exposure to professional loss, but they may. Denver Professional Liability Insurance is sometimes also called Errors and Omissions (E&O) coverage. Claims come from errors or omissions in the performance of professional services. Companies in Denver that perform professional services for a fee are exposed to Professional Liability Insurance claims.
Often claims result from overlooking a critical piece of information, misstating a fact, misunderstandings, forgetting to do something, or misplacing something. In today\u2019s world, the definition of \u201cstandard of care\u201d has broadened through court cases and statute changes. Any of the following businesses need Denver Professional Liability Insurance: public relations firms, architects, credit bureaus, medical companies, accountants, lawyers, advertising agencies, marketing firms, travel agents, financial services firms, social service organizations, construction managers, safety consultants, and web or social media firms. We strongly suggest you obtain a Professional Liability Insurance quote. Denver Professional Liability Insurance provides professional service firms, or businesses providing services, with protection against potential legal action by clients and other third-parties.
Why consider Professional Liability Insurance?Professionals are expected to have extensive knowledge or training in their area of expertise. Additionally, they are expected to perform the services for which they were hired, according to the standards of conduct in their profession. If you fail to meet the industry standard and your client suffers a loss, you and your firm could be held responsible. Here are a few actual claim examples:
- A Marketing Consultant failed to send email advertising in a timely manner and the client had lost revenue of $150.000. The claim was settled for $125,000.
- A Head Hunter placed an executive with a firm, but failed to complete due diligence regarding a non-compete agreement. The non-compete limited the executive\u2019s ability to perform job duties. The new employer sued the head hunter for failure to disclose and won a $50,000 award.
- A Travel Agency was retained to assist a couple in planning a trip for their 25th wedding anniversary. A week prior to the cruise, the couple was informed that the cruise was booked incorrectly and the ticket price was actually $1,000 more per person. The couple was forced to cancel their trip and they sued the travel agent for negligence and the loss of their down payment. The case was settled for $9,000 and the travel agent had to pay $4,000 in defense expenses.
The Benefits of Working with DCInsurers - MountainWe work with several major insurance companies so we can deliver the optimal rate based on your unique exposures. Your company\u2019s success depends on your ability to do the job well while balancing income, expenses and any unfortunate events like a claim or loss that can greatly cost your firm.
- We know and understand your industry.
- We are a full service local independent insurance agency.
- We have access to many insurance companies, not just one.