Professional Liability Insurance Is Non-Negotiable For Business Owners. Here’s Why.
Even if you’re an expert in your business, mistakes happen. In the event that you make a mistake in the professional service you provide to a customer or client, it could lead to a lawsuit. Getting sued without protection will result in deep financial and reputation damage to your company. Professional liability insurance, also called errors and omissions insurance protects your business if you are sued for negligently performing your services, even if you haven’t made a mistake. Without coverage, you’ll have to pay expensive legal defense costs out of pocket.