Even if you’re an expert in your business, mistakes happen.
And if your client or customer thinks a mistake in your professional services caused them a financial loss, they can sue you.
Professional liability insurance can help cover claims of:
Who needs E&O Insurance?
The best-known professionals who need E&O insurance are:
However; less thought about businesses include:
If you are in the business of providing a service to your client for a fee, you have an E&O exposure.You may want to consider what will happen if the service is not done correctly or on time, and it costs your client money or harms their reputation. Even if you didn’t do anything wrong, your client can still sue your business if they believe you made a mistake.Without coverage, you’ll have to pay expensive legal defense costs out of pocket.
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