Monday, February 11, 2013
Most advisors buy Errors & Omissions insurance, but it is more important to prevent the need to use it in the first place. LifeHealthPro offers ten tips to keep you and your business safe in a litigious market:
1. Be a consummate professional.
2. Do your research.
3. Stay in your expertise area.
4. Solicit business properly.
5. Practice full disclosure.
6. Do thorough fact finding.
7. Link your recommendations to documented needs.
8. Educate clients about what they bought.
9. Leave a paper trail.
10. Promptly resolve client complaints.
See Harry Lew, 10 Tips to Prevent an E&O Claim, LifeHealthPro, Jan. 17, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.