Errors and Omissions and Professional Insurance

It’s not about your professionalism, training, or years of experience. It’s about human nature. Mistakes happen to the best of us, no matter how experienced.

The simplest clerical error or proofreading mistake (even one made by a trainee) can cost you, especially if it results in financial loss or damage to the reputation of one of your customers.

That’s why it’s important to understand the extent of your business liability insurance since it only protects your operation against bodily injury, property damage, or advertising injury.

But what happens when you, one of your employees, or a vendor makes a mistake and they hold you responsible?

But with an errors and omissions (E&O) or Professional Liability insurance policy, you’ll enjoy specialized liability protection against losses not covered by traditional business insurance.

• Veterinarians
• Funeral Directors
• Accountants
• Beauticians
• Wedding planners
• Printers
• Building-trades contractors
• Designers
• Advertising agencies

If your service is possible to be done incorrectly, and it costs your client money or harms their reputation, you need to investigate E&O/Professional liability.

These policies protect you from claims in the event a customer or client sues your service business for negligent acts, errors or omissions occurring during business activities, and which could potentially result in a financial loss for the client.

The simplest way to look at E&O and Professional Insurance is coverage for when you or your employee makes a mistake or fails to perform the duty you were supposed to do, and that causes some sort of damage or injury.

Benefits of a specialized policy may also include:

• Monthly payment options to help spread out your payments, so you can better manage your cash flow
• Coverage of temporary staff, full-time employees, and independent contractors
• Past work, covering unforeseen claims, arising from work completed before you were even insured, to a pre-agreed date
• Worldwide coverage as long as the claim is filed in the U.S., one of its territories, or Canada
• Claims responsiveness when time is of the essence, especially in the event of an insurance claim
• Tailored coverage for the specific risks of your field and industry
• Knowledgeable agents who provide exceptional, passionate service
• Coverage for contracts satisfying most standard contract insurance requirements

You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for…

While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you.

There’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

We’re your neighbors. We protect businesses and people we know and care about, and that means we always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.

Contact us and let the professionals at our company help you forge the strongest shield possible to help you protect the things you are working hard to build.