Why You Need Professional Liability InsuranceSeptember 18, 2014
If you provide a professional service or regularly give advice to clients, you are vulnerable to the prospect of lawsuits from dissatisfied or unscrupulous clients. The danger of a lawsuit is always there, even if you’ve done nothing wrong, and we all know how costly attorneys can be.
Professional liability insurance, also called errors and omissions insurance (E & O insurance), protects your business if you are sued for negligently performing your services, regardless of whether or not a mistake or omission was made by your business.
You may need professional liability insurance if your company:
- Provides a professional service (law firm, for example)
- regularly advises clients as part of one’s business plan
- Need Professional Liability insurance as part of a contract.
Professional Liability Coverage can start for as little as $22.50/month.