As a professional, you adhere to certain standards and best practices for your industry. If a client claims you didn’t meet those standards, however, they can sue you for economic damages. Even if their claim proves to be unfounded, you could be out-of-pocket for costs without the protection of professional liability insurance (also known as Errors and Omissions insurance).
Professional liability insurance provides defense and damages for actual or alleged failure to or improperly rendering professional services—something your general liability policy does not. This can include:
Professionals who benefit from this type of insurance include:
(doctors, dentists)
(lawyers, attorneys)
(accountants, consultants, insurance agents)
(architects, engineers)
(agents and brokers)
(consultants and software developers)
See what a review of your current insurance coverage uncovers. You may find that you’re adequately protected. You may find otherwise. Either way, you deserve to know for your peace of mind.