Some of us need errors and omissions liability insurance. Most of us do not need this type of insurance because of the reason that this kind of coverage is not personal. This type of insurance is suitable for business. Business owners can get Professional liability insurance coverage via http://www.csrisks.com/products/errors-omissions-miscellaneous/ or through an insurance agent or broker.
Several other business people who may need it are those who are involved in advertising, printers, wedding planning, and web site hosting. All of these individuals or companies are responsible to make their clients satisfied, else they can bring a claim against them.
This coverage provides protection against the claims of professional negligence or acts that harm. For example, why an insurance agent may need this coverage? if consumers feel that the agent did not recommend the right coverage, they can make a claim against the agency. Without insurance, the agent will be responsible to cover the costs involved in this claim.
In the medical profession, this is called malpractice insurance coverage. In other areas, it may be called professional liability insurance. This insurance would protect a company or individual to experience bankruptcy.
Select Errors and Omissions Liability Insurance that would be appropriate for your business. Do some research and read the policy carefully. This is a very important kind of insurance to have.