For many careers, companies and professions, errors and omissions insurance policies are necessary. This type of policy is specially designed to cover professionals in the event of an alleged mistake regarding their work. Errors and omissions policies can be tailored to a few different professions.
In real estate, there is a lot of information that needs to be presented to your client. Inspections, school district information, price discrepancies and closing information all have a direct effect on both the agent and the client. If the agent fails to disclose any necessary information or fails to do things in a timely manner, they could be facing a lawsuit. That is where real estate liability insurance comes in. This type of errors and omissions insurance covers the cost of a lawsuit stemming from nearly any mistake a real estate agent could make.
Attorneys Liability Coverage
Attorneys deal with a massive amount of confidential information that only they and their client are entitled to know. If any of that information gets out, the attorney could find herself in need of an attorney. Errors and omissions insurance for lawyers covers information breaches, mishandled cases and many other common mistakes in the legal profession.
In addition to real estate liability insurance and attorney’s liability coverage, there are other professions which can benefit from tailored errors and omissions insurance. If your career can be affected by mistakes or complications with clients, contact an insurance service today.