Engineers, architects, surveyors and anyone who works within the construction industry are responsible for the very foundation upon which our civilization rests—literally. Because of this, construction professionals’ risks for liability are great. Indiana professional liability insurance for engineers is designed to help those professionals mitigate their risks and prevent financial loss in the event of a legal claim.
There are a number of factors that have resulted in increased exposure for engineers and other construction personnel, including but not limited to:
- Advanced design technology
- Increased emphasis on sustainability
- Increased client expectations
- Broader contractual requirements
Each of these factors and then some has made it more difficult for professionals to anticipate risks and therefore, to implement proper procedures and policies to prevent them. A knowledgeable E&O insurance agent, however, is up-to-date on all of the latest industry trends and can help owners and contractors alike amp up their safety procedures and loss prevention programs. Not only does this help their clients mitigate risks, but it also helps to improve their risk profiles, thereby making them more insurable.
Moreover, with an effective policy in place, you can have peace of mind in the event of a lawsuit. If a claim is brought against you, Indiana professional liability insurance for engineers will cover all legal fees including defense costs, investigation expenses and even settlement awards for a single claim, making it one of the smartest investments you will ever make.