The main purpose of error and omissions insurance is to provide protection for your business against legal costs incurred by legal action taken against you or your company. In today’s litigious climate it is almost inevitable that you or your company will get sued. The premium associated with your E & O policy will far outweigh the costs that could be incurred in a legal fees and court costs.
Every error and omissions insurance policy will differ according to the industry you work in, the location you operate your business, the type of service or product your business provides, and other business circumstances. If your business is able to continue to operate after a lawsuit may depend on whether or not you had E & O coverage. Even in a frivolous lawsuit it could cost you thousands of dollars to defend yourself.
Anticipating what might happen and taking precautions to protect your business should be part of your business plan. Having error and omissions insurance is part of preparing for the future just like property insurance and general liability insurance. After you have put your heart and soul into establishing your business as reputable it is hard to believe that someone would want to sue you. Unfortunately in today’s litigious society it’s often not a matter of if, but just a matter of when a lawsuit will happen.
a November 29th, 2011
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A Word From Our Sponsor On Error& Omission Insurance
November 29, 2011 by
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A Word From Our Sponsor On Insurance for Small Businesses
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If you own a small business, you know that your company is vulnerable in many ways that a larger company is not. Financial losses can often affect you much more than they would affect a powerful business, and this is important to remember. The best thing you can do for your small company, whether you are planning on expanding your business over time or keeping it small and homey, is to get the best business insurance Bethlehem Pennsylvania policy possible. You should make sure to get the policy that best matches your needs.
In the event of a lawsuit, an uninsured business is always in danger. The reason for this is that larger businesses that make more money, can usually also be sold for more money. This is no reassurance to a small business, however, because even a relatively “small” amount can be the downfall to a smaller business. Get a business insurance Bethlehem Pennsylvania policy that will pay for a large percentage (or even all) of the money lost in a lawsuit. You should also be sure to get a policy that protects you well in case one of your customers or employees steals money from you. While it may be somewhat less likely to happen in a less corporate setting, employees do steal and customers may occasionally get away with stealing stock, and you should be sure to get the policy that will best protect you from this.Category Insurance | Tags: | No Comments
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A Word From Our Sponsor On Car Insurance Orlando
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There are many reasons to carry car insurance Orlando. The biggest being is it required by law. There are two parts to car coverage, liability and physical damage. The liability portion is actually the only part required by law. This is to protect the other person if you are at fault. If you are involved in an accident the liability coverage is what will pay for damage you do to someone else’s vehicle or property. It mah also will cover their medical coverage.
The second part of your car insurance Orlando is the physical damage. This is the part is voluntary and covers your vehicle in the event that you are involved in an accident that is your fault. It will pay to replace or repair your vehicle. It can also cover other events that may happen to your car that are not necessarily accident related. A good example would be windshield replacement.
Even though personal car insurance Orlando is generally not as complicated as a commercial auto policy would be, it is still important to find an agent familiar with the coverage you will need. There are minimum liability requirements that are required by law that seems to change regularly. Usually when the legislature realize the minimum limits are not high enough to cover normal losses. Your agent will know what they are and if you need to change your policy to be within the law.Category Insurance | Tags: | No Comments