Your Business Could be One Judgment Away from Ruin
Errors and Omissions insurance can help protect you and your business from claims of negligence or not performing the duties you claim to have achieved.
You’re probably thinking, But I already have a business insurance policy. Wouldn’t E&O insurance be redundant?
If you were to accidentally or unknowingly provide incorrect advice, false information, or fail to perform a service as it was described, you could be sued for negligence or malpractice. And if the judgment doesn’t fall in your favor, the resulting damages could be devastating to your company. E and O insurance extends your liquid, physical and future asset protection in a civil suit beyond the coverage of your primary business insurance.
Think of it this way: You business insurance covers your day-to-day operations, such as the property where your company’s based, expenses that stem from a covered loss and lost income from a prolonged layoff. But it’ll offer little protection to your assets in a civil suit. Enter errors and omissions insurance. Rightly or wrongly accused, it’ll cover your court expenses, minus your deductible, as well as the damages up to the policy’s stated limits.
Because some professions are simply more prone to scrutiny than others, E&O insurance premiums are calculated through a number of variables, including the industry’s vulnerability to risk, the insured’s annual revenue and the physical location of your business. In other words, E&O insurance is coverage tailored to your needs. Contact Peter Green Insurance at 714-258-2800 or 888-725-7776 to craft a policy that protects your business.