All business owners strive to limit liability risks. In doing so, you may assume that your general liability insurance policy will suffice. However, depending on the particular operations of your business, you may need an errors and omissions insurance policy for optimal protection.
Errors and omissions insurance is a form of professional liability protection to provide your organization and employees with protection from claims of negligence. Whenever your advice or guidance has the possibility of misguiding a client, you are at risk for professional liability claims. For example, a financial advisor may be faced with a professional liability claim if their advice caused the client to lose a significant amount of money.
Any business that gives advice or guidance to a client and can possibly lead to damage or financial hardship needs an errors and omissions insurance policy for full protection.
Contact VGW Walker Insurance in Austin for all of your Texas business insurance needs. We will help you determine if your business assets would receive optimal protection through an errors and omissions policy.
