The most straightforward clerical error or proofreading mistake (even made by a trainee) can cost you if it results in financial loss or damage to the reputation of one of your customers.
That’s why it’s essential to understand the extent of your business liability insurance—it only protects your operation against bodily injury, property damage, or advertising injury.
But what happens when you, one of your employees, or a vendor fails to catch something that your customer doesn’t miss, and they hold you responsible? What happens if you are in the medical field and you have a bad outcome with a patient?
They can not only refuse to pay, they may also sue you for damages.
But with a professional liability insurance policy, you may have liability protection against losses not covered by traditional business insurance.