Are you in the business of providing professional advice or services? If so, you are at greater risk of damages claims that could run up to millions of dollars, putting your firm on the brink of closure or, worse, forcing you to stay out of business.
To shield your company and your employees from negligence lawsuits, you need to take out errors and omissions (E&O) insurance. Also called professional liability insurance, E&O insurance reimburses costly court fees, attorney fees, judgments or settlements, and administrative costs.
Run Your Business with Peace of Mind
Generally, an E&O coverage helps safeguard your firm from various claims such as:
Keep in mind though that some claims won’t be covered by E&O insurance. These include harassment and discrimination in the workplace, bodily injuries, property damages, illegal or intentional acts, employee illnesses or injuries, criminal prosecution, and product liability complaints.
However, you may want to add other types of business insurance to protect your company from situations not included in your E&O policy. Depending on your needs, you may consider:
Professionals and Businesses that Can Benefit from E&O Insurance
An E&O coverage is essential for different types of businesses and business professionals. In Colorado, we cater to a broad spectrum of professionals, including:
Meanwhile, doctors, dentists, and other medical professionals carry a specific type of E&O insurance called malpractice insurance.
Learn More About E&O Insurance from Independent Colorado Agents
We at Southern Colorado Insurance Center can tailor policies that meet a company’s specific liability needs. Request a quote online now so we can assist you in protecting your business.