CAMICO insurance tip of the month: professional liability.

• Position: News&trends

Problem: Your largest client goes bankrupt and blames your firm for having neglected to advise and warn management. "We relied on the CPA firm for help, and they failed to advise us about how vulnerable our business was to a market downturn."

Solution: An appropriate professional liability policy will cover the damages from errors or omissions and protect the assets of your firm and its owners. Professional Liability is a complex field, and an insurance program should include a high level of support from the carrier in the underwriting, loss prevention and claims processes. Policyholders should seek advice from their insurance agent regarding their...