Financial Planning, May 1st, 2008
IT'S YOUR WORST NIGHTMARE: You've been invited to dinner at the home of a client who has become a friend over the years. You are -sitting in the living room having after-dinner drinks and the client says, "By the way, you'll be getting served with a lawsuit on Monday, but don't worry. You're insured." Sound improbable? Perhaps. But this actually happened to an advisor who was a client of Bud Bigelow, president of Cambridge Alliance, an insurer in Burlington, Vt., that sells errors and omissions insurance.
Errors and omissions (E&O) insurance is the must-have policy for financial professiona...
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