E&O Insurance in Lancaster, OH
Protecting your business or professional practice from the financial ramifications of unexpected errors and resulting costs is essential. Regardless of your company’s attention to detail, best intentions or experience levels, mistakes and delays are often inevitable, making planning ahead an essential part of risk management. Fortunately, errors and omissions (E&O) insurance can provide crucial financial aid.
What Is E&O Insurance?
E&O insurance—sometimes called professional liability insurance—can assist your business with funding the costs and damages arising from claims that you or your employees made a mistake or otherwise provided inadequate services. Specifically, this type of insurance may be highly advisable or even required among consultants, real estate agents, accountants, marketing professionals and health care providers.
What Can My Policy Cover?
In response to professional liability claims, your E&O insurance can render aid for a multitude of losses and expenses, often including attorney fees, settlements and court-ordered judgments. Specifically, policies may provide financial assistance when your business faces the following allegations:
- Professional errors
- Oversights
- Negligence
- Misrepresentation of services
- Omissions
- Inaccurate advice
- Missed deadlines
- Breaches of contracts
Lacking coverage could leave you having to manage losses and legal costs out of pocket, potentially derailing your business’s financial plans and future growth. Furthermore, even if you know that your business is innocent of any wrongdoing, without E&O insurance, you might not have the resources to fight the accusations and clear your name.
How Our Team Can Help
With a knowledgeable and experienced team based in Lancaster, OH, Gary A Gibson Ins Agency, LLC is well-positioned to help local businesses understand the importance of E&O insurance and secure a suitable policy.
Contact us today to discuss your options, get personalized guidance from our team or compare quotes.