by Alison Neumann

Protecting Your Business from Errors and Omissions


Does your business work directly with clients in a professional manner or give advice as a service?  If so, your business would likely benefit from the protection of an errors and omissions liability policy.  Business professionals such as contractors, real estate agents, lawyers, marketing professionals, architects, engineers, doctors, bankers, insurance agents, event planners, and technology companies are prime candidates to carry this policy.

Errors and omissions, or E&O, liability policies are a type of professional liability insurance that covers claims arising from mistakes, oversights, and negligence.  They provide coverage for misrepresentation of facts, documentation errors, and perceived poor or inaccurate advice given.  We are all human and we all make mistakes, as much as we may hate to admit it.  E&O policies can protect your business from the fallout costs of such types of mistakes; including legal expenses incurred fighting lawsuits.

Unfortunately, people can and do pursue legal action all the time for actual and perceived losses they suffer.  We live in a litigious society, and protecting your business from costly claims and lawsuits over mistakes, oversights, and negligence is easy to do with an errors and omissions liability policy.  To learn more about your business insurance needs, contact your agent today.

Sources:

https://www.techinsurance.com/blog/errors-and-omissions/6-common-myths-about-errors-and-omissions-insurance/

https://www.investopedia.com/terms/e/errors-omissions-insurance.asp

https://www.thehartford.com/professional-liability-insurance

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