Who Needs Insurance for Errors and Omissions?

errors omissions New York

Errors and omissions insurance covers professionals for just what it says: if they make a mistake or forget something in the course of doing business. Since there are so many potential mistakes or missing components that can result while providing services to a client, covering for errors omissions in New York is a crucial insurance protection in a wide range of professional industries.

When considering whether you need E&O coverage, think about the potential risks you are exposed to in terms of making technical mistakes while conducting your particular service, and the potential for damages to your client as a result of leaving something out. For example, if you work in the real estate sector, you are required to provide your clients with the information they need to make an informed decision about their property purchase. Forgetting a step in the process or making a mistake on the paperwork could result in financial damage to your clients or a claim against you for negligence in carrying out your work. The same is true for many other professionals: attorneys, accountants, engineers, architects, design professionals. If you’re providing a service, you may need this type of coverage.

Risking a lawsuit due to a human error is a chance that a skilled professional shouldn’t take. Speaking to an insurance professional can be a good first step in determining whether or not errors omissions in New York is right for you.

Coverage You Can Add to Your Business Owner Policy

Carmel business owner policy


A Carmel business owner policy (BOP) can provide you with comprehensive insurance coverage in one easy package. Business owner policies combine liability and property insurance coverages, but there are also complementary policies that can be added to the BOP to prevent gaps in coverage.

Three of the most common of these coverages are worker’s compensation, employment practices liability and professional liability. Workers’ compensation coverage protects you if an employee injures him or herself on the job and files a claim. Since this risk has the potential to present a major expense, it’s an important coverage for a business owner to have. Employment practices liability insurance covers your business in the event of a lawsuit based on a wrongful act during the employment process. Examples of this include suits for discrimination, harrassment, wrongful termination or retaliation. Professional liability coverage is also referred to as errors and omissions (E&O). If you operate a service business or give advice to your clients as part of your professional practice, this coverage protects you from claims of negligence.

A Carmel business owner policy is a great foundation to your company’s insurance coverage, and it can be complemented by other policies that cater to your business’ specific needs. Having a well-rounded insurance package gives you peace of mind to grow your business despite the many risks you may face.

Selecting Insurance for Home Health Businesses

Insurance for home healthcare providers

Home health business owners face unique risks. You may take payments from Medicare and Medicaid and receive audits. Your employees may be driving clients to appointments. Finally, there are additional injury risks if a caregiver is assisting a patient with limited mobility. In order to ensure that your business continues to run smoothly, you’ll want to consider a policy designed specifically for your industry. When looking for insurance for home health care providers consider a bundled package that includes comprehensive coverage.

To understand what that policy should include, consider the unique challenges you face. Unlike many businesses, your liability is drastically increased by the nature of services provided. Therefore, you’ll want to ensure that you have malpractice or professional liability coverage. In addition, there are a number of risks to the staff you employ, especially if they are involved in moving patients. Including workman’s compensation in your policy helps protect your bottom line if a caregiver is injured on the job. If you provide transportation assistance or allow employees to drive clients anywhere, you will also need non-owned and hired auto insurance to cover any accidents that could occur. Finally, if you receive payment from Medicare or Medicaid, your organization could be audited regularly and any issues found could result in fines and penalties. Complete insurance for home healthcare providers should therefore include regulatory audit coverage. By considering these factors you can select a policy tailored to the risks you are exposed to as a home health company.

Laundromat Insurance Tailored to You

self-service laundromat insurance

Coin-operated laundromats face a lot of the same challenges as many other businesses. You’re liable for slips or other injuries that occur on your property. You’re also liable for damage to any property you own, and sometimes even the property you lease or rent. That includes equipment like dryers and washers, but liability also extends to water heaters and boilers. Depending on the laws in your jurisdiction, you might even be liable for valuable goods that customers leave in your custody in certain situations. That’s why you need basic business insurance, but why do you need specific self-service laundromat insurance?

One of the main advantages of a custom tailored insurance policy is the focus you receive on your specific industry. In the case of self-service laundromats, there’s additional coverage for things like backup in water lines, or damage occurring to customers property while it’s processing. That means that if your washers or dryers rip or scorch customer clothing, you’ll have coverage and options for service recovery.

Another advantage of going with special insurance is having consultants on hand that really understand your business. Self-service laundromat insurance companies want you to have less accidents and losses, just like you do. They use their experience and knowledge concerning the risks most commonly faced by laundromats to analyze your business. Then they work with you to tighten up your operations and improve your bottom line, so reach out and ask about improving your coverage.

If You Prepare Taxes, You Need Insurance

Tax preparer insurance

Since it involves a complete understanding of federal, state, and local tax law, preparing taxes can be a complicated job. Regardless of how careful you do your job, if you are a tax preparer, you should have professional liability insurance. Tax preparer insurance is essential for three important reasons.

First, clients expect accountants and other tax preparers to operate professionally. In the tax industry, that means they expect you to take steps to protect them financially should you make a mistake. Professional liability insurance will provide security for your clients for your mistakes or omissions. If you don’t carry this coverage, potential clients will typically look for an accountant that does.

Further, if you are an accountant today, you conduct your practice in a society that is highly litigious. In this environment, even frivolous lawsuits can be extraordinarily expensive to defend. Legal fees are typically expensive, and settlements can range into the millions of dollars. If you want peace of mind that your practice will survive a lawsuit, you must have professional liability insurance.

Finally, depending on the jurisdiction where your practice, you may have a legal responsibility to carry some form of tax preparer insurance. Failing to do so might get you in trouble with your state licensing board.

For three important reasons, every accountant or tax preparer should have professional liability insurance.

How to Choose the Right Insurance Company


Whether it is a house, car, business, boat, or something else, you work hard for things you have. Don’t let your hard work and investment go to waste. Choosing the right insurance provider is essential for protecting your assets. Companies like IFS offer comprehensive coverage to help you protect virtually anything. Here are some suggestions for choosing the right insurance company.

The most important factor in picking an insurer is to find one that has a stellar reputation in the insurance industry and in the community at large. Checking online reviews is fine, but for the best provider, find one that has been in business a long time. Since companies that provide bad service or products typically don’t last, if you work with a firm that has been in business for decades, you will probably have a stellar experience.

Another thing to consider when choosing an insurer is the breadth of coverage the company offers. For a variety of reasons, bundling insurance is a great idea. Because of this, try to find a provider that can meet all your needs. IFS offers an assortment of policies, ranging from automobile insurance to liability insurance to marine insurance.

To protect all your assets, it is important to find the right insurance company. By following a couple simple suggestions, you can select a great provider.

3 Key Tips for Purchasing Business Insurance

business insurance in Wantage, New Jersey

As your business continues to grow and succeed, the risks associated with operating without insurance increase. Getting the coverage you need now will help you during future hardships. Get the right business insurance in Wantage, New Jersey by following these tips.

1. Do Your Research and Planning

Start by finding out what insurance coverage options are commonly used by other professionals in your industry. Depending on the unique nature of your business, you might need the following policies:

  • General liability
  • Professional liability
  • Commercial property insurance
  • Business interruption
  • Workers’ compensation

2. Recognize Your Risks

Knowing the protection you need begins with acknowledging the unique risks of your business. If you are in the manufacturing industry, electrical failure or equipment breakdowns could cause problems. If you are running an e-commerce store, data breaches could result in financial devastation.

3. Find a Trustworthy Provider

Working with a business insurance agent can aid you in finding policies that fit your needs. When you are receiving professional advice from someone you can depend on, you will make even smarter decisions for your business.

Operating a business is an investment and every investment comes with certain risks. Purchasing the proper insurance can help you defend against the financial setbacks of unexpected events. Get the business insurance in Wantage, New Jersey you need.

An Insurance Agency in Bloomfield Hills to Assess Your Risks Fully

Insurance Agency in Bloomfield Hills

Whether you are a one-person-shop or a large corporation, you need a regular assessment of your insurance coverage needs. These needs might change as your business grows or downsizes, and it doesn’t make sense to fail to cover yourself adequately or pay for insurance you don’t need. The latter subtracts from precious operating cash flow that you could put back into your business to help it grow. This is why many owners rely upon an insurance agency in Bloomfield Hills to assess their coverage needs on a regular basis to determine if the business is protected as is or if it needs to make adjustments in its policies.

Assessing your needs includes evaluating all risks you and your employees face while operating your business. It also takes a look at your current claims process to ensure that it is effective and efficient. It takes into consideration any special coverage needs you might have, such as high-risk workers’ compensation insurance for businesses that conduct dangerous operations. Finally, a look at your management structure will ensure that the appropriate people are named on your policies and involved in all insurance decision-making processes. Contact a qualified insurance agency in Bloomfield Hills today for a complete assessment of current insurance coverage and additional needs.

What Is Cyber Risk Insurance in Indiana

cyber risk insurance in Indiana

Cyber risk insurance in Indiana protects businesses against cyber crimes such as data theft, including the loss of personal and financial information. An increase in electronic criminal activity over the last decade has necessitated the need for this insurance coverage. Hackers are not discriminatory, and even small businesses find themselves the victims of security breaches. This can destroy your operations potentially, as customer and employee data falls into the hands of the wrong people and trust in your business is lost. Nobody wants to continue to solicit a company where their personal and financial data is not protected properly.

Cyber risk insurance in Indiana covers your business against cyber theft by responding to the immediate need for a crisis management plan should a breach occur. If you failed to secure your data adequately, you may become liable for its loss. You will also incur costs to notify your customers of the risk to their personal information; you may even need to pay temporarily for credit monitoring services. You must, of course, update your data storage equipment to protect against future loss, and should anyone be slandered as a result of your data breach, you might be facing a lawsuit. These are just some of the things this additional business insurance covers, so protect yourself today.

Protect Your Present and Future With Comprehensive Insurance

New Mexico Insurance Agency

For most people, securing reliable, complete insurance coverage is a no-brainer. There’s no reason to not protect your valuable assets or give yourself financial protection. Some things you can live without, but there are certain things in life you want a New Mexico insurance agency to watch over for you. The following are types of insurance coverage you need for yourself and your loved ones.

Life Insurance

If the unfortunate and unforeseen happens, and you pass away before your family is raised, how will they manage financially? Life insurance provides a financial benefit for your dependents when you die. You choose a benefit amount, and you’ll pay an affordable monthly premium.

Car Insurance

Not only does auto coverage protect you from having to pay through the roof in the event of an accident, but it’s required by law for drivers to have it. Your New Mexico insurance agency should offer this benefit.

Homeowner’s Insurance

Damage to your home from accident or the forces of nature can result in thousands of dollars (or more) in repairs. The costs can be overwhelming. Fortunately, with homeowner’s insurance you won’t be responsible for much of this.

When the time comes to find an insurance agent, it’s vital to select a company that can give you all the necessary options. Make things easy on yourself and choose an agency that offers life, home and auto insurance.