By ALLEN MCQUISTON
The Jemez Agency
As a business owner, you work hard to provide your loyal customers safe and effective products and services. But what will happen if you or someone on your team happens to make a mistake that results in injury, damage, or other legal issues? You need protection designed to cover you and your business in the face of the unexpected. That’s where Professional Liability Insurance comes in.
What is Professional Liability Insurance?
Professional liability insurance—often referred to as errors and omissions insurance—acts like a safety net for businesses. It provides protection in case a client or customer sues because of a mistake made in the business’ course of work.
This insurance covers the price of legal counsel and helps pay for the damages awarded to those who suffer financial losses due to the insured’s mistake.
Without this coverage, a business or professional may have to pay out-of-pocket for defense costs and damages—a situation which, in many cases, can lead a business to financial ruin.
Who Needs Professional Liability Insurance?
Professional liability insurance is a crucial form of coverage for businesses across industries, as even the most competent professionals can make mistakes or face allegations of negligence.
Though organizations of any shape and size face this risk, a few specific types of businesses are at higher risk of being sued for negligence or errors and omissions.
These include:
Beauticians and barbers
Opticians
Printers
Funeral directors
Veterinarians
Dog Groomers and kennels
Exercise studios and clubs
Learning centers
Clergies
Cemeteries
Florists
Photographers
Lawyers
And any business that offers advice that the customer relies on to make an informed decision.
Invest in This Key Form of Coverage Today
Professional liability insurance is an essential form of coverage for businesses and professionals looking to protect themselves against natural human errors and accidents. Get in touch with The Jemez Insurance Agency today to learn more about the benefits of these policies.
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