Loss insurance for errors and omissions is a type of insurance that protects businesses from financial losses resulting from mistakes or omissions made by their employees. This can include errors in professional services, such as accounting, legal advice, or engineering, as well as omissions, such as failing to provide adequate information to clients.
Loss insurance for errors and omissions is important for businesses because it can help them to cover the costs of defending themselves against lawsuits, as well as any damages that may be awarded to the plaintiff. This can help to protect a business’s financial stability and reputation.
