A major part of being a responsible business owner means making sure that you have the proper Alpharetta Insurance in place. While one of the most common types of business insurance is general liability insurance, this won’t cover issues pertaining to doctors, lawyers and other professionals when claims of errors or omissions occur in the performing of their duties occurs.
When your concerns are regarding accusations of providing poor advice, or failure to provide quality services, you’re going to want to consider purchasing a professional liability policy. You never know when something could potentially affect your business, so you want to make sure you minimize any risks that you may be facing.
Professionals working with tighter deadlines and smaller budgets have come to realize that mistakes are almost inevitable. And your clients or customers can sue even if you didn’t do anything wrong. This is why you need professional liability (or errors and omissions) coverage to help protect your business.
Unfortunately, when a customer claiming a negligent act, error or omission in the professional services you provide sues you, these claims are not covered by a general liability policy.
Professional liability and the non-profit
Nonprofit organizations are commonly considered more susceptible to financial ruin given that they don’t have the unlimited resources or disposable income that larger, for-profit businesses often have. In addition to protecting a nonprofit’s employees, E&O insurance covers volunteers along with the organization as a whole.
What types of nonprofits need this coverage?
For the most part, organizations that are in the healthcare sector, human services, or any industry that provides counseling, professional services, mentoring, and the like, are vulnerable to exposures related to professional liability risks. A vast majority of claims are due to accidents and injuries occurring at nonprofit locations and special events.
While something that may seem minor at first, such as a “slip and fall”, it could ultimately result in surgery and major medical expenses. This type of incident can happen with any business entity, which is why these businesses need to partner with an insurer of Alpharetta Insurance that works intensively with clients and provide services to those most vulnerable.