If so, then you’ve come to the right place!
If, as a Rochester business owner, you’re uncertain if you need errors and omissions (also known as E&O, professional liability or malpractice) insurance, consider the following:
- You are a professional printer – what if after printing and mailing 300 wedding invitations, you discover the father’s name instead of the stepfather’s name is printed as the announcing party?
- You own a computer technician business. You’re diligently working to get a computer back on line. While doing so, you accidentally lose valuable client computer data.
- Your business provides security for other businesses. You’ve installed a surveillance camera that inadvertently goes dark. A burglary is committed within the camera’s coverage area but no one sees.
Errors and Omissions Insurance
If you provide clients a service for a fee, then incidents like these may be your responsibility. That means you need E & O coverage. This is a specialized coverage that usually covers the business owner, employees and subcontractors working at your direction. It covers you against losses that are not covered by traditional general liability insurance such as claims and lawsuits for negligent acts, errors, or omissions that take place while doing business resulting in financial or other client losses.
Judgments, attorney fees, court costs, settlements can be EXTREMELY EXPENSIVE and are usually covered. Legal expenses are especially important. This is because even if you’re vindicated in a lawsuit, court related expenses can quickly chew up cash reserves.
Specialized Coverage Needs a Special Agent.
An electrician has different Errors and Omissions exposures than an attorney. So, this insurance is highly customized by business type. That’s why you want to obtain a quote from Rochester New York based business insurance professionals, Gerard P Smith Insurance Agency. The Smith Insurance Agency in Rochester NY has been guiding and insuring Rochester New York based businesses for over 44 years! If you are looking for Errors and Omissions Insurance in Rochester NY, then call the Smith Agency today to start protecting your business.