Regardless of how meticulously you plan, how many risk management strategies you put in place, and how well you train your employees, mistakes happen.
And if that mistake harms a client’s business, damages their reputation or costs them money – your company may be liable.
If your business provides services for fees, you’re exposing yourself to potential lawsuits. In fact, any contractor, business owner or individual who makes a recommendation, provides a service, designs a solution, or even offers an opinion runs the risk of incurring a professional liability lawsuit.
Professional Liability Insurance Coverage Options
Also known as errors and omissions insurance, or E&O, such policies generally provide protection for risks not covered by general liability insurance including:
