Business owners understand how important it is to find a comprehensive insurance policy to cover many issues. Injuries, damages and litigation concerns must be addressed when purchasing an insurance plan to protect your business and your workers.
Professional Liability Insurance
The types of insurance for professional services include many considerations. One policy that may be overlooked is professional liability insurance, also known as errors and omissions coverage.
Professional liability insurance protects against many concerns, including negligence, professional errors and copyright infringement. This type of insurance is particularly important for your business if you provide the follow services to clients:
- Professional services, such as those provided by advertising companies and engineering firms
- Contractural services like building and repair services
- Professional advice to clients, including legal and financial advice
Claims made by clients may also include libel or slander, even if it is untrue. Since these claims are likely to result in expensive legal fees and settlements, it’s imperative to be adequately covered. Make sure you find an insurance company that understands the unique risks your business faces, because no two businesses are susceptible to the same issues.
As a business owner, you must protect your company and your workers from liability issues. Speak with your insurance agent to ensure that you have a comprehensive package.