WHAT IS PROFESSIONAL LIABILITY INSURANCE
Professional Liability Insurance, also known as Errors and Omissions (E&O) is the insurance that covers your company, or you individually, in the event that a client holds you responsible for a service you provided, or failed to provide, that did not have the expected or promised results.. It covers you for errors (or omissions) that you have made or that the client perceives you have made and provides protection for you in the event that an error or omission on your part has caused a financial loss for your client.
WHY DO YOU NEED PROFESSIONAL LIABILITY INSURANCE?
Because even professionals make mistakes.
Of course we don’t like to admit it but we all do. Even with the best developed business tools that safeguard against mistakes, items can be overlooked. E&O INSURANCE COVERAGE needs to be an integral part of protecting any professional services business.
Accusations of professional mistakes, failure to deliver promised services and professional negligence are just three reasons clients can sue. Keep in mind the client who initiates a lawsuit only has to THINK you have made a mistake. True or not, you may still have to defend yourself against these allegations.
With litigation at a dramatic increase in today’s society, you need to be prepared!
As professionals, we make it our goal to help protect you and your company.