As more professionals are opting to provide consulting services, the accompanying insurance exposure may not be top of mind.
By Tom Rea | August 22, 2022
Given the ripples of the coronavirus pandemic over the past two years, more professionals may be hanging out their shingles and opting to provide consulting services. In making such a career change, however, the accompanying insurance exposure may not be top of mind.
After the Great Recession of 2008, the real estate market was drying up, leading some agents to try property management, home inspection and appraisal work. Unfortunately, some did not have the requisite expertise and, consequently, professional liability issues arose.
Any consultant needs to realize that as an independent contractor they no longer have an employer as a buffer between themselves and a client, and therefore need to make sure they are careful not to overstate or misrepresent their expertise.
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