A Word From Our Sponsor On E & O Problems

When a person or a group of people decide to start a company, often times they do not realize how many insurance policies they will need on their company. Protecting the wealth and assets of everyone involved is very important. An error and omission, or e & o are one of the many reasons for these policies.
Humans are always going to make mistakes and have to pay for the consequences. Some are more costly than others, but no one ever wants to see time and money go out the window due to a small mishap. Contractors and accountants are two of the many examples of professions that pay big when they make an e & o. Construction for one project can be very costly and time consuming. It takes more than one person to take all the measurements and complete all the work. If one measurement is off, it would take a lot of time and money to repair the problem. Many customers would not be happy and may pursue a lawsuit. Even if you weren’t the project manager or even the boss you could be held liable. If an accountant has a big workload and has one figure off, it can affect every other business dealing with that figure. This sole person would have to deal with the consequences.
An will happen to every business at some point. Diligence and hard work will not always protect you and your company.