Professional liability insurance in New York is no longer just for doctors and lawyers. It’s available to any professional who provides a service to others. Consultants, real estate agents, insurance agents, artisans, and CPAs all benefit from an errors and omissions insurance policy that goes beyond the scope of your general business liability insurance.
For a lot of businesses, the decision to purchase errors and omissions insurance is a monumental moment. It means that that you’re doing significantly more business and a client has requested that you have the insurance to protect their project. However, in today’s litigious society, any client could sue you if you inadvertently make a mistake or damage something on their property when you’re working there. You cannot rely on their good will.
When you have a comprehensive insurance portfolio that includes professional liability insurance in New York, you’ll have the peace of mind that your business is covered if someone brings a lawsuit against you for negligence. The cost of a preparing a defense to meet the claim could bankrupt your business, and that doesn’t even begin to include a potential settlement. Trust your business to an insurance company that will write the policy that fits your organization. Use their resources to help you develop a good risk management plan that prevents the need to file claims, but make sure you’re insured, in case the worst happens.