Your key to survival is to have already purchased Professional Errors and Omissions (E&O) Liability Insurance. If you haven’t, you have to pay for the mistake and your business may suffer.
E&O Professional Liability Insurance protects all kinds of services, including those of doctors, dentists and lawyers; financial services, insurance agents, and even hairdressers. Imagine ruining some big celebrity’s hair just before an appearance at an important televised awards ceremony? How about a dentist who takes out the wrong tooth or a doctor who misdiagnoses a deadly disease? And what if your financial advice decimates your client's savings?
Everyone who provides a service needs E&O Insurance! It protects you against claims of your not doing an adequate job or of your having been negligent. You pay a premium and your insurer agrees to pay claims for the types of mistakes covered by the policy, including legal fees, damages or awards resulting from the claim up to the limit set by the policy.
While most claims do cover real mistakes, what’s interesting is that often these mistakes are very small ones. It will be a comfort to know you have expert help behind you if things go wrong, especially if your client is powerful and capable of coming at your business ruthlessly.
Koch Insurance Group can help you determine your insurance needs. Contact them!
Leave a Reply