E&O Insurance in Texas
Another important insurance policy offered by our firm is the Errors and Omissions Insurance (E&O). Also known as professional liability insurance, this insurance protects your business against claims that an error was committed during provision/delivery of your professional services. Types of business or organizations that require our Errors and Omissions Insurance can include: law firms, financial organizations, marketing firms, healthcare facilities, entities operating in the education sector, consultants, web developers, and service providers like barbers, salons, beauty clinics, and others.
In the instance that a third party sues your business organization for committing an error or a mistake, the situation can be financially damaging to your business. Without insurance, resolving such a conflict involves paying for various expenses like attorney fees, court costs, administrative costs, penalty payments and more. In the absence of a suitable insurance policy, businesses face the immense risk of losing a large portion from their monthly/yearly revenues to cover these expenses. This can lead a business into bankruptcy or even complete closure. Thus, E&O Insurance is crucial for stability and long term progress of your business.
At PNC Insurance, the type of claims that are dealt under E&O Insurance includes: omissions, errors, negligence, inaccurate advice, violation of good faith, misrepresentation, violation of fair dealing, libel, slander and others. Errors and Omissions Insurance offered by PNC Insurance does not cater to illegal acts or wrongdoing on purpose. If a business intentionally violates US state or federal laws or purposefully attempts to cheat its customers, PNC Insurance will not be liable to come to its rescue. Moreover, E&O Insurance does not cover employee claims, general liability claims and claims resulting from occurrences that happened before the policy.
The cost of purchasing Errors and Omissions Insurance from PNC Insurance varies for different business and organizations. These depend on different factors. These factors include the risk factor attached to your business, the limit of your selected policy, claims’ history, location, and others.
If Are In Need of E&O Insurance in Houston, Dallas, Fort Worth, San Antonio, El Paso & Austin, Texas Give us a Call Today!