Why Insurance Agents Need EO Coverage

If you work as an insurance agent, you need to have errors and omission insurance in case an incident occurs. Here is why e&o is necessary to have in case you make a mistake or are otherwise sued by a client.

Coverage in Case You Make Mistakes

Mistakes happen in just about any job. By having e&o insurance for insurance agents, you can protect yourself in case you leave out important information when working with your client. Your client might sue you or otherwise have issues if there is a mistake. By having the right type of insurance coverage, you can avoid these types of problems.

Protection for Different Types of Insurance Agents

Regardless of what type of insurance agents you are, there is coverage that can help you. This includes health insurance agents, life insurance agents, and property and casualty agents, to name a few. If you are worried about e&o not covering your specific line of work, know that there are varying areas that e&o can cover.

If you are an insurance agent, know that there is protection for all different types of insurance agents. Having coverage in case you make mistakes can help protect you in the event you are sued or there are other problems with your client.

How Errors and Omissions Insurance Benefits Your Business

As human beings, we make mistakes. Unfortunately, when those mistakes cause a financial loss to someone else, that person may sue you. As a professional, your advice and decisions influence the person hiring your services. Obtaining errors omissions in New York can help mitigate the financial loss associated with a lawsuit.

Key Professionals

All professionals should determine if an E&O policy works best for them. However, these key professions greatly benefit from having errors and omissions insurance: accountants, home health aides, architects, psychologists, therapists, insurance agents, occupational therapists, lawyers, consultants and social workers.

Company Reputation

Having an E&O policy or malpractice insurance is often looked on favorably by customers. Many customers want to work with professionals who have insurance. Carrying a policy shows them you understand mistakes happen and care enough to protect your company.

Business Requirement

Though customers may only work with professional who hold an E&O policy, some businesses only work with insured professionals as well. Growing and expanding your business requires working with other business professionals. Keep those relationships strong with the right insurance protection.

Don’t wait until you make a mistake to obtain errors omissions in New York. Talk with your insurance agent to determine all your risks and ensure you are adequately covered. One lawsuit can cause untold financial damage to your business. Protect your assets with E&O insurance.