You try your best to exceed your customers’ expectations, but sometimes mistakes occur. While you have your property and equipment insurance in place, what happens when the printer fails to see a typing error on a mass order of wedding invitations? Or when a plumbing repair fails and floods an entire office? Or what about when a shipment goes missing and causes your client to miss an important deadline? While you may be in deep trouble with your client, issues like these can be resolved with the purchase of Errors and Omissions Insurance (E&O).
Errors and omissions insurance is a specialized liability protection against losses not covered by traditional liability policies. In short, this insurance safeguards your business from claims if a client sues for negligent acts, errors, and omissions committed during business activities that result in a financial loss for the client. We are all mere mortals, and we all make mistakes. We understand that they happen, but we’re never prepared for the fallout that happens after. Costly mistakes happen more than we’d like them to, but luckily, insurance is there to help you pick up the tab for the damages.
Errors and omissions insurance coverage can help to pay for lawsuit expenses, which may include:
Even if your professionals are highly skilled or if you believe you’re in a low-risk industry, every business needs protection from costly claims. Secure your errors and omissions liability insurance today.