Consultants are held out to be experts in their field. Clients, therefore, hold them to a high standard regardless of their areas of expertise. Because of this, they need NJ errors omissions insurance. It helps protect the individual as well as the reputation of the business or organization they represent.
Consultants offer a wide variety of services and, consequently, open themselves up to a wide variety risks. What those risks depend on an individual’s specialty. In our litigious society, individuals run the risk of being sued over even the tiniest of errors. As humans, everyone is bound to make mistakes at some point, intentional or not.
Professional Liability Insurance
E&O insurance is also known as professional liability insurance. It covers risks not typically covered by general commercial liability insurance. Obtaining professional liability insurance as a consultant is the same as doctors getting malpractice insurance. It should be standard insurance for any consultant. It covers anything a consultant does with his or her consulting practice that causes losses or damages.
NJ errors omissions insurance is important. Consulting businesses and individual agents benefit immensely from its protection. The absence of E&O insurance puts individuals and businesses at a greater risk for lawsuits and greater risk of losing business. Get in touch with an insurance agent today.