Protect Yourself Before You Wreck Yourself

Protect Yourself Before You Wreck Yourself

Americans can be almost relentless when it comes to bringing a civil lawsuit against businesses, be they large or small, for any reason, be it substantial or frivolous. Our nation's citizens have brought civil lawsuits estimated to cost the American taxpayer in the hundreds of billions of dollars. We have historically sued for coffee being too hot and for being hit in the face by thong underwear while attempting to fit into them. Once a very famous beer company was sued for false advertising when two beautiful, bikini clad women did not appear, as advertised, after a customer took a sip of the beverage. Needless to say, the case was thrown out of court and the plaintiff did not receive a dime. However, there are a lot of cases that are legitimate, and anyone who has decided to live the American dream and be a self-employed businessperson, or businessperson, needs a crash course on E&O insurance, otherwise known as Errors & Omissions insurance.

Those in dire need of E&O insurance would include individuals working as real estate agents, an insurance agent, architect, or as an insurance or real estate broker. Most experts agree that these professions have a higher propensity to be sued by their clientele. These professionals are most likely to be sued for negligence. This means that the client has suffered some sort of monetary loss due to an intentional, or more often than not, an unintentional error on the part of the business from which the client was seeking services.

These types of civil suits are extremely time consuming, resource consuming, and financially consuming. They place the business under a great deal of pressure to clear their names, and the potential cost to their reputation is enormous. These cases put an incredible strain on any company's time and resources, and they often could spell doom for an upstart business. Therefore, it is of utmost importance that, along with larger companies, small to medium sized entities also find ways to protect themselves against civil litigation.

E&O insurance is available for all business sizes operating in all areas of the country. Their policies vary greatly, and they are dependent on the fiscal revenue of the business, type of work being performed by the company, which state the work is being completed, and what type of coverage the company requires. Nevertheless, this type of insurance is a safeguard for an entity wanting to protect its profits and reputation from frivolous, or even legitimate litigation. America is a great nation with the greatest of intentions. However, it is also a nation where one can observe suits of negligence taking place on almost a daily basis in any of our country's courtrooms.

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