Biggest mistake of my career. Missed a demand charge error at a hotel in Corpus Christi. AEP Texas overcharged them $47K over 2 years. Client found it after my audit and sued me for the full amount plus their attorney fees.
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E&O claim nightmare - learn from my mistake
Ouch. What happened with your E&O carrier?
That's the nightmare part. My policy had a 'professional services' exclusion I didn't understand. Carrier denied the claim. Had to pay $52K out of pocket plus my own legal costs.
This is why I read every word of my policy now. Make sure it specifically covers utility auditing and calculation errors. Generic professional liability isn't enough.
What carrier was that? Want to make sure I avoid them.
Without naming carriers, the lesson is clear: read your policy carefully and ask specifically about coverage for utility bill auditing errors. Many general professional liability policies have exclusions that could leave you exposed.