Mistakes happen in business, but if the client or customer thinks the mistake affected them financially, you could be sued. Professional liability insurance is commonly referred to as errors and omissions insurance, or E&O insurance provides coverage if you and your company are found negligent in the professional services you provided.
Professional liability insurance is the protection you and your company need to defend yourself against a claim that professional advice or services you provided led to a client or customer suffering financial harm due to mistakes because of your business’s part or if the company failed to perform some function.