Many business professionals can be served with a lawsuit claiming error or negligence whether they are ultimately found to be liable. Errors omissions Manhattan insurance, also called professional liability insurance, can protect you and the financial stability of your business with coverages that protect you in case you must face legal litigation due to error, negligence, omission, and other industry risks. Most professional liability insurance can be bound into a comprehensive business owners insurance policy to cover basic and more specific risks your business can face in the normal course of doing business.
Professional liability insurance may offer some additional protection excluded or not covered under your commercial general liability policy. Not only do most professional liability policies cover claims to the policy limit due to error, negligence, or omission, but often these policies can cover legal defense costs and financial damages from a lawsuit or other legal litigation. Many professional liability policies can also be tailored to the industry or individual risks a business or individual might face. Some customers may also feel more confident to work with a business that has an errors and omissions policy in place. Businesses in New York may feel more secure in their daily business interactions by investing in errors omissions Manhattan insurance for their company.