Professional Liability Risks White Paper
When Your Business and Reputation are on the Line: Know Your Professional Liability Risks
You don't actually have to be negligent to be named in a professional liability lawsuit, high net worth (HNW) individuals serving as professional service consultants, corporate and non-profit directors and officers or owners of a family office or small business often face even greater exposures.
In fact, over 82% of HNW households with more than $5 million in investable assets believe their wealth can make them an attractive target for liability lawsuits.
Because even meritless lawsuits must be defended, they can threaten not only your business assets, but without proper professional liability insurance, can put your personal assets at stake as well. This can include a liquidation of assets beginning with savings and investments (although retirement plans and trusts can provide some protection), followed by real estate holdings and personal property, including targeting vacation homes and rental properties.
This is your guide to the risks and issues you may face.