As a banker, your decisions and actions affect not just your employment but the financial security of others. Your clients rely on you to handle their money with care and diligence. Unfortunately, there may be times that clients feel that you made the wrong decision or calculation. If they think that your error hurt them, then they may start litigation against you and your company. This is where insurance can come in handy. Professional liability insurance for bankers is built for this exact occasion. When you acquire this policy, you can feel secure against any future incidents.
What is Professional Liability?
This kind of coverage is there when a client files a lawsuit against you stating your work included mistakes, negligence or undelivered services. These lawsuits can cost several thousands of dollars. Even if your company is ultimately not found liable, you still have to consider the court and attorney fees you may deal with. Professional liability can help cover these expenses.
What Does This Mean for Bankers?
If a client feels that you lead them astray, gave them bad advice and made an administration error, then you could be subject to litigation. Protecting yourself with professional liability insurance for bankers provides you with a policy that is molded to your market and risks. This way you can prepared for any situation.
Start building your coverage today with a trustworthy agency!