What Businesses Need NJ Errors and Omissions Insurance?
Everyone makes mistakes on occasion, but when those mistakes are work related they can cause big problems for employees and employers. Even with the most cautious employees and the best risk management strategies in place, mishaps are inevitable. That’s why preemptive planning is essential for New Jersey businesses to successfully overcome the challenges that accompany professional mistakes and errors. While no industry is immune to the potential for human error, there are many industries that face higher risk exposures than others.
Specific sectors of the service industry, such as medical professionals, lawyers and contractors all face high risk exposures to claims arising from the advice or services they provide. That’s why NJ Errors and Omissions coverage is an essential part of any business insurance plan. In this day and age clients will not hesitate to file a claim against any operation should they fail to provide any services promised or should those services not yield the desired or promised results. Many NJ Errors and Omissions policies will cover judgments, settlements, legal costs and other fees incurred as a result of a contract or services provided dispute. Such claims can bankrupt a small business or individual. Even if the allegations are found to be false, thousands of dollars may be needed to defend the lawsuit. NJ Errors and omissions coverage is also known as professional liability coverage and is designed to help businesses manage the financial impact of legal complications arising from the services they provide. This insurance will help cover legal costs a company may incur in the event that a client holds an employee or the company responsible for any faulty work, misrepresentation, malpractice and other professional error.
At Provident Protection Plus Insurance Agency, we provide NJ Errors and Omissions Insurance Coverage for professionals in a wide range of industries, including commercial real estate, architects and engineers, contractors and more. The typical commercial general liability policy does is not enough to protect most businesses as it generally excludes job related performance and services. We can help protect your operation from professional errors in almost any form they may take. Our specialists have extensive experiences protecting our clients against everything from failure to place bids to neglect of duty. Give us a call today at (888) 990-0526 to learn more about all of our New Jersey Business insurance solutions.