Mistakes Happen. Protect Your Business From Claims.
It can happen to financial advisors, engineering firms, even advertising agencies. It could be guidance that results in a client’s financial failure. An error on a critical manufacturing design. Or a mistake on packaging that results in a total loss of the printing run.
In Sault Ste. Marie, businesses look to Dawson & Keenan to help design error & omissions coverage that creates solid protection against professional liability. Our team of brokers has access to all the major providers that specialize in errors & omissions coverage, which allows us to compare options and get you the best policy at the best price.
As the owner of a professional firm, it can be important to have this type of insurance in addition to a standard commercial general liability policy. Ask your Dawson & Keenan broker for more details.
How Much Errors & Omissions Coverage is Enough?
If you or your business give professional advice or provide professional services, errors and omissions insurance is a very important coverage to have. The amount of coverage you will need depends on:
1. What type of work is performed.
2. The size of your company.
3. The requirements under any contract you enter in to with your client.
The first step in assigning a limit to your liability (which can range from $250,000 to $5 million) is to assess the extent of the financial consequences that result from an error or omission made by you or someone in your firm.
It’s also possible to add coverage for the cost of your legal defense, if this is deemed appropriate. Your Dawson & Keenan broker will advise you on the best course of action to take in choosing the right coverage.
