When a business first takes off, the entire process is an exciting adventure. Events take place that were once only a part of a vision. With time, it becomes clear that business can be affected by limitless economic variables. Professional liability insurance in Indiana is the best way to hedge against unanticipated events in a continually-changing economy. Amidst the flurry of time-sensitive decisions and constant interruptions, mistakes happen.
Fighting the Frivolous
Errors and omissions insurance provides coverage in the event that a client wishes to hold you legally accountable for an alleged error. Even when there is no legitimate foundation for litigation, a union of an unscrupulous client and equally unethical lawyer can still result in a claim for wrongdoing. Defending yourself against such a claim can be costly. Professional liability insurance in Indiana can help cover the costs of defense as well as the costs of a subsequent settlement.
An Ounce of Prevention….
In addition to setting up your policy, your insurance provider may also be able to provide you with tips as to what processes can be modified or improved in order to make you less susceptible to litigious claims. The best way to evade exposure is to do what you can to prevent it, and plan for the possibility that any remaining exposure can be exploited.