The What and Why of Professional Liability Insurance

As a business owner, you may be feeling overwhelmed by the large number of coverage options available to you. One important type of insurance that you should consider for your business is Professional Liability Insurance.

What Is Professional Liability Insurance?

This particular kind of insurance coverage, sometimes also called errors and omissions insurance, protects businesses from claims regarding the services provided. If a business fails to provide a service correctly, and this error results in financial loss for the client, the client can file a claim of this kind. Professional Liability coverage provides for legal costs and damages associated with errors and omissions claims, so your business does not have to shoulder the brunt of this cost.

Why Should You Consider Professional Liability Insurance?

For many business owners, the first question they ask after "what is Professional Liability Insurance" is why they need it. Without Professional Liability Insurance, your business runs the risk clients or customers filing errors and omissions claims. These suits can be quite costly, and could even be enough to make a small business go bankrupt. Professional Liability Insurance helps business owners to avoid this risk, shouldering the cost of professional liability claims.

Protect Your Business

It is crucial that you and your business have the insurance coverage needed to minimize errors and omissions risk. Without Professional Liability coverage, your business could be exposed to a great number of liabilities. Be sure to learn all you can about this insurance option and consider the ways that it could protect your business.

About the author

Kraft Writer

View all posts