bigstock-Businessman-Hand-Working-With--44532328Texas Business Insurance Errors and omissions (E&O) insurance is needed when your business is involved in any activity that might create a financial loss to a client or other third party.  Most commercial insurance policies exclude any coverage for E&O.  That is why you should have us complete a review of your business exposures to determine if E&O insurance may be needed. E&O insurance may also be called professional liability or some other name, but the general coverage is the same. It was once thought that only doctors, lawyers, or architects needed E&O insurance.  However today, every business should review their exposures and get a quote for E&O insurance. In today’s world your business can be sued even if you did nothing wrong.  For example, a manufacturer was sued by another firm because their joint client went out of business and the manufacturer was paid in full while the other firm was not paid. While this is not an all-inclusive list, here are some of the industries that should have E&O insurance.
  • Medical professionals
  • Consultants
  • Realtors
  • Technology companies
  • Software developers
  • Marketing firms
  • Accountants
  • Lawyers
  • Construction management firms
The best way to obtain E&O insurance is to have an independent agent search the market for the best possible combination of coverage, service, and price.  There are many good companies who write this kind of coverage, but their policy forms do vary.  Therefore, it pays to have a professional review your options. No matter how well your business might be doing, disaster can strike and turn your streak of good luck into quagmire of misery and frustration. J.S. Edwards & Sherlock Insurance Agency offers a variety of business insurance policies to protect your business as well as your peace of mind. No matter how small or large, new or longstanding your business is, you never know what the next day will bring or how much it might cost.