If you are a service-based business in Indiana, you know that providing professional services has surpassed manufacturing as the states leading industry. While your exposure is certainly less tangible, it doesn’t mean that your business is less vulnerable to possible lawsuits. Carrying professional liability insurance in Indiana is important for a coupe of reasons.
One Claim Could Be Detrimental
Professional liability provides protection against claims of financial loss caused by an error or omission in the rendering of professional services. Undoubtedly, you work hard to ensure that your clients are taken care of; however, you cant always avoid mistakes. Also, even if you weren’t negligent in any way, a client can still allege that you were and file a lawsuit. Whether you are found to be responsible or not, the legal costs associated with defense against the suit could be substantial and possibly detrimental to your business.
Do It for the Clients
Its not unusual for clients to specifically request that service providers carry professional liability insurance. This is because they want to be compensated in the case of an error or omission. You may lose out on a contract due to not having the right insurance in place. Additionally, although a potential client may not require a policy, the fact that you have one anyway could be a good selling point when bidding for a job.
You need to protect your business. Its time to look for a provider of professional liability insurance in Indiana.