Understanding Professional Liability Insurance
Professional liability insurance, often called errors and omissions (E&O) insurance, protects professionals from claims of negligence, mistakes, or inadequate work. Whether you are a consultant, freelancer, or business owner, this coverage is essential to safeguard your finances and reputation.
Who Should Consider This Coverage?
- Freelancers and independent contractors
- Consulting firms and IT professionals
- Healthcare providers and therapists
- Any professional offering advice or services
Key Benefits of Professional Liability Insurance
- Financial Protection: Covers legal fees, settlements, and court costs arising from claims.
- Peace of Mind: Focus on your work without fear of lawsuits.
- Client Confidence: Demonstrates professionalism and reliability to clients.
- Contract Compliance: Many contracts require professionals to carry liability insurance.