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Learn MoreProfessional Liability Insurance
As architects, attorneys, accountants, designers, physicians, financial planners, mortgage bankers, title agents, real estate agents, property developers, and other professionals, your clients rely on your expertise, skills, and advice. That’s why they turn to you time and again. Our professional clients also depend on us for our insurance expertise to adequately protect them from the unexpected, having done so for eight decades.
Whether you are designing a luxury home for a new client in Taos, managing the design/build for a new commercial retail complex in Albuquerque, practicing family law in Santa Fe, or handling the accounting for businesses throughout New Mexico, you are held to a high level of standards within your industry. When a dispute arises alleging your performance – or lack of performance – caused a client financial damage, you could end up in litigation. Whether the accusations have merit or not, the costs alone to defend yourself add up quickly. If a judgment is rendered, your business could be shelling out significant sums of money. Even worse, your reputation takes a hit.
This is where Professional Liability insurance from Daniels Insurance Agency comes in.
The Work You Do Needs Coverage
Professional Liability insurance is designed to provide professionals in a wide range of industry sectors with protection in the event an error or omission during the course of their work results in a client experiencing financial damage. For example:
- A legal malpractice suit is brought against a law practice alleging conflict of interest after the son in a family business dispute claims he wasn’t fairly represented.
- A couple sues a real estate agent for failing to disclose termite damage before purchasing their home, which results in significant damage and forces the homeowners to move out and incur extra expenses.
- A title agent is sued for breach of contract.
General Liability insurance does not respond to any of these situations. A Professional Liability policy specifically designed for your industry and the work you perform is what is needed.
The professionals at Daniels Insurance Agency will review your specific operations, projects, and the type of clients you serve and determine the right policy for you. Professional Liability policies are not standard and require a specialist like us to secure coverage tailored to your needs.
Some enhancements can be added, such as an extended reporting period (ERP) endorsement to the policy, which will continue coverage into the future for work done in the past. It’s also essential to understand the policy language and how professional services are defined. In addition, “who is covered” in the policy is critical. Some policies may not cover work from independent contractors; some do so but also want the contractor to have their insurance, while other insurers mandate what limited liability coverage they should carry. We will review all of this with you in detail.
Daniels Insurance Agency: Your Trusted Risk Advisor
Founded in 1937, Daniels Insurance Agency has three locations throughout New Mexico and is licensed in every state to serve not only our local region but also clients with a national footprint. As an Assurex Global partner, we are among the world’s most prominent independent agents and brokers. We’re also a member of the Independent Agents & Brokers of America, a national alliance of business owners and their employees who offer a wide range of insurance and financial services products.
Our staff of 42 employees throughout our three locations is ready to provide you with the white-glove service you should expect from your insurance consultant. In fact, you’ll always reach someone at Daniels Insurance Agency. You can depend on that.
Give us a call at 800-530 8885 to find out how we can work together.
