Professional Liability Insurance, also known as errors and omissions insurance (E&O), safeguards businesses in case of errors, mistakes or negligence in the delivery of professional services to clients. Despite experience, errors can occur, potentially leading to financial losses for clients who may then pursue legal action against the business.
For businesses providing professional services, the absence of professional liability coverage exposes them to liability claims arising from perceived mistakes. Even if these mistakes do not result in financial losses for clients, they can still lead to lawsuits. Small business owners should prioritize obtaining professional liability coverage as it serves as a safety net during critical moments. Consider securing this coverage if you:
Professional liability insurance for small businesses shields against claims & expenses related to:
