Why Do Insurance Agents Need E&O Insurance?

Why Do Insurance Agents Need E&O Insurance?

Numerous businesses rely on providing some form of service in order to remain profitable. However, mistakes can happen just like with anything else. It is just that in the professional world, an honest mistake could lead to financial loss for a client or another company. Even insurance agents could make a mistake on a client’s policy, leading to financial loss for the individual. It is for this reason that e&o insurance for insurance agents is highly recommended so that you will be protected in events like this.

What Could Happen?

Even making just a tiny error on a client’s insurance policy could lead to him or her filing a negligence claim. Obviously you never intended to cost the client any amount of money, but mistakes can still lead to loss of finances. You could be sued and stand to lose a lot of money if you are not protected. In the event of a lawsuit, errors and omissions insurance could help cover some or all of the damages. This type of insurance can also help you pay for your legal defense.

Get E&O Insurance Today!

Just because you work in insurance does not mean you cannot go without insurance yourself. Operating a business without it could cost you severely in the future. In the event of an unforeseen mistake, make sure you are covered with e&o insurance for insurance agents.