Error & Omissions Insurance
Don’t Let Your Errors Cost Your Business
It doesn’t matter how seasoned you are, how much training you have, or how many years of experience you have. It has to do with human nature. It is one thing we all do regardless of our experience.
Regardless of whether you have been negligent, you may be sued. Your employees may lose money if he makes a mistake while clerical or proofreading (which could lead to your company losing money or damaging your reputation). It is critical to obtain erroneous and omissions insurance in Alberta. The insurance policy you have for commercial liability includes bodily injury, property damage, and advertising injury coverage. You should be aware of these restrictions.
Employees, vendors, or you may have overlooked something, but what will happen if the customer finds out? Your customer can not only sue you for damages but can also refuse to pay for your products and services. Insuring your business against errors and omissions will protect it against financial losses.
You should consider errors and omissions insurance based on your business type and industry. Although printing companies and estate agents might have different risks, both can result in serious harm if their jobs are not done correctly. Generally, the functions and prices of most insurance products are the same, but how they are structured to truly protect you may differ significantly.
Insurance is not a one-size-fits-all solution for your business. E&O insurance brokers from team iSmart Insurance are experts carefully selected to ensure your protection and the protection of people you care about at most affordable cost.
Professional indemnity insurance is often known as errors and omissions insurance, or E&O. It covers litigation and compensation costs incurred due to mistakes (thus the term “errors”) committed in your professional services that result in your client losing money.
- Professional Indemnity
We are all bound to make mistakes at some point in our lives. Whenever you make a mistake or provide incorrect information to your client, you and your client can lose a lot of money! You will be reimbursed for expenses incurred from negligence claims made against you with Professional Indemnity (PI) insurance.
- Maintaining Reputation
We all rely on our reputations to succeed for most of our lives. Professional insurance coverage offers crisis management and public relations to protect your brand and reputation in the event of a crisis.
- Intellectual Property Infringement
There is an increased risk of inadvertently violating copyright and intellectual property (IP) with the current volume of content being generated.
With E&O insurance, you’re not only protected for your mistakes but also for legal fees associated with defending your company against third parties up to a specified amount.
How Can We Help?
Let us help you get the best coverage.