Professional Liability Insurance
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What is professional liability insurance?
Professional liability insurance is also known as errors and omissions insurance. This type of insurance protects your business from legal costs and possible compensation if a client believes an error or omission your business made cost them financial damage.
Do I need errors and omissions insurance?
No matter how careful or how disciplined you are, mistakes happen. Professional liability insurance protects your business from a worst case scenario whether you are at fault or not. These incidents can cost thousands of dollars and many small businesses cannot afford the costs out of pocket and still keep their business running.
Which professions can benefit from professional liability insurance?
Almost all service businesses can benefit from errors and omissions coverage. Some professions include:
- Accountants
- Mediators
- Directors and Officers
- Interior Designers
- Architects
- Real Estate Agents
- IT Professionals
- Financial Advisors
- Business Consultants
- Mortgage Brokers