Even if you’re the best of the best and you’re an expert in your business, mistakes happen! And, if your client or customer believes that your mistake caused them a financial loss, they can sue you. Professional liability insurance helps cover your company and protect your business from claims of negligence related to a professional service.
It can cover claims of:
● Inaccurate advice
Although you might not have actually done anything wrong, if your client believes you have made a mistake, they can still sue your business. Therefore, small businesses that provide professional services should strongly consider getting professional liability insurance to protect when a business owner is being sued for negligence.