You’ve just secured a new client. You worked hard to beat out your competitors for his business. He’s a huge real estate developer, and he has his sights on a condominium project downtown. This will not only be part of an urban revitalization project sure to bring you additional work, it’s also the highest paying job your firm has received in its young life. You assign your best engineers to the project. They study the site and design the perfect plans, or so everyone thought. There was an error nobody caught in the master schematic; the client sues. You lose everything. In Indiana, professional liability insurance for engineers protects you from this horrific loss.
If you think the above scenario can’t happen to you, you’re mistaken. In today’s business world people expect perfection, and if they don’t get it, they sue. Errors and omissions insurance, or E & O, is a policy designed to protect you from your mistakes. Should an engineer at your firm commit an error on or omit an important element of a set of plans, your client could come after your business. An E & O policy will protect your assets and maintain your financial stability. Indiana professional liability insurance for engineers is an E & O policy, so secure one today and protect the growth of your firm.