What You Need to Know About Professional Errors and Omissions Insurance

Whether you call it errors and omission, professional liability, or malpractice, it is all similar protective insurance. If your company provides a professional service to private individuals or companies, it can be important to have the added protection for you personally and for your business. A NJ errors & omissions policy can protect your company from financial ruin.

Potential risks from lawsuits come in many forms when you provide professional services. Accountants, engineers, attorneys, wedding planners, dentists, and even contractors may find themselves being sued for work they did or did not do. Unfortunately, the quality of work or services you provide is subjective, and some people may be difficult to work for sometimes. These people may choose to sue for oversights or errors, breach of contract, or even loss of reputation.

NJ errors & omissions insurance may offer personal or business coverage even for a frivolous lawsuit. Not having the extra protection liability policy can be a serious financial risk because even a suit without merit can waste your valuable time and cost thousands in legal fees, court costs, and settlement costs. An insurance professional can write a policy specifically designed for your type of business to cover what is important to you, such as legal defense funds and punitive damages. Protect yourself and your company with a comprehensive insurance policy today.

Insurance Risk Advisors