Daniels Insurance Agency
Professionals throughout New Mexico Come to Us for Professional 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 rely on us for our insurance expertise to properly protect them from the unexpected, and have 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 any 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 Perform 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 there was termite damage prior to 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 would 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 by no means standard and require a specialist like us to secure coverage tailored to your needs.
There are also enhancements that 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 important to understand the policy language and how professional services are defined. In addition, “who is covered” on the policy is critical. Some policies may not cover work from independent contractors; some do so but also want the contractor to have his or her own insurance, while other insurers mandate what limited liability coverage they should carry. We will review all of this with you in detail.
We’ll help you prepare for tomorrow today.
Daniels Insurance Agency is poised to help you navigate the risks you face today while assisting you with solutions and strategies to support your business as it expands and grows. We are also an integral part of the communities we serve, understanding the issues of our region to effectively serve our business and individual clients. Give us a call at 800-530‑8885 to find out how we can assist you.