Any successful business owner understands the importance of living up to the promise made to every customer. Consumer trust is a key part of earning repeat business, which in turn helps to create a stronger, healthier, and more profitable company. Regrettably, errors can occur - however, occupational accountability insurance shields your standing.
Alleged or Actual Negligence | covers businesses in the case of providing incorrect advice, an oversight in communication, or failing to deliver on a promised service.
Defense Costs | covers legal expenditures when an accusation is made, and a claim is reported.
Professional Liability insurance, also known as Errors and Omissions (E&O) insurance, covers mistakes, negligence, or discrepancies in a business's accounting records that could potentially be interpreted as fraud and lead to legal action. Business owners and executives have several legal and financial responsibilities that come with their roles. If they fail to fulfill these responsibilities by inaccurately reporting income, errors, and omissions coverage under a professional liability policy will reimburse a business for problems arising from these fiduciary oversights. In essence, the company's finances and reputation are safeguarded.
Consultants, attorneys, engineers, and other professionals that may find themselves acting as a consultant or information resource should consider adding professional liability insurance to their business insurance policy. This coverage as part of your plan provides assurance that a minor mistake will not jeopardize your company's future.
Lowry Insurance creates tailored insurance plans to meet the varied needs of different business entities, regardless of their size. Connect with our team today to learn more about the services we offer, explore our catalog of trusted carriers, and start building your team's ideal insurance policy.
INFO@LOWRYASSOC.COM
(704) 332 8871