Error & Omissions liability insurance helps protect the assets of firm, owners, executives and managers if individuals, competitors, third parties or government regulators make claims. Denver errors and omissions liability insurance is a specific form of insurance coverage that can protect you and your business against lawsuits formed as a result of errors or omissions in the performance of professional services. Denver errors and omissions coverage can save your business as well as your professional reputation from liability claims and the costly legal expenses. In case you thought smaller private firms are immune from litigation, here are actual claim examples.
Risk management, or loss control, is a concept well-known to corporate management. Most businesses large and small take precautionary measures to minimize the risks associated with fire, theft, product liability, work-related injury, and other common business exposures. Proactive management of E & O exposures can improve a company’s ability to recruit talented management, enhance the quality of corporate decision-making, and contain the cost of liability insurance premiums.
What You Should Do
- Consider Error & Omissions Liability Insurance
- Determine if there are any conflicts of interests among the directors. Directors and officers should avoid situations where their personal interest may, or appears to, conflict with the best interest of the company
- Utilize a qualified attorney, insurance agent, and accountant to help you manage your risk.
- Consider Employment Practices Liability Insurance. Employment-related claims represent a high-visibility, fast-growing area of liability
- Establish internal controls for accounting and financial reporting
Here at DCInsurers – Mountain, we know the importance of protecting yourself from the detrimental expenses of making a mistake, which is why we dedicate ourselves to providing the best in Denver errors and omissions liability insurance.