Why do I need Errors & Omissions Insurance?

When you make an error or omission in the sale or servicing of a financial or insurance product, it can trigger a client lawsuit that can cost thousands of dollars to defend. If you are found liable, and a judgment is levied against you in a court of law, you may also be responsible for settlement costs. Having an E&O insurance policy in place provides you with expert legal counsel in the event of a claim and helps protect your current and future earnings. It also safeguards your business and personal assets against the high costs associated with client litigation and court settlements.