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If your business operations in Beloit, WI, involve regularly offering professional advice to clients, it’s worth considering obtaining an errors and omissions (E&O) insurance policy. Also known as professional liability insurance, this policy can protect you against claims from unsatisfied clients alleging misinformation, regardless of any fault on your part. At Senz Insurance Agency Inc., we can provide you with the necessary insight to make an informed decision about this coverage.
What is Errors and Omissions Insurance?
This type of insurance is a protective measure against professional liability and is intended to safeguard you and your employees. E&O insurance helps with legal costs if a client sues you, which can occur quite often, even in the absence of a legitimate claim. Associated court costs can be substantial and may pose a threat to your business. Without this coverage, your company might be forced to dissolve. Besides legal costs, E&O also caters to the cost of legal claims. However, if your business operates at a high profile, you may also need to consider umbrella insurance to cover excess liability.
Who Requires an E&O Policy?
Professionals across various fields can derive value from having an E&O policy. While some local laws or professional organizations might mandate E&O insurance, it’s generally in your company’s best interest to possess one, even if it’s not a requirement. Consider this policy if your company operates within one of the following industries:
- Accounting
- Advertising
- Graphic design
- Investing
- Marketing
- Real estate
- Consulting
- Architecture and engineering
- Health and beauty
- Day spas
- Contracting
- Information technology
Procuring an E&O policy is as straightforward as obtaining other forms of commercial insurance. At Senz Insurance Agency Inc., we serve clients in Beloit, WI, and surrounding areas by customizing policies that cater to their unique needs. Contact our office today for more information and to get started on comprehensive coverage.
