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This provider offers general liability insurance, professional liability (E&O) insurance, business owners’ policies, cybersecurity insurance, workers’ compensation, and other specialized ...
"As a rule of thumb, small business owners should purchase general liability or professional liability coverage as a first line of defense," Rhodes said. How much does small business insurance cost?
General liability: This type of insurance covers lawsuits involving bodily injury or property damage. Professional liability: This insurance is sometimes called "errors and omissions coverage." It ...
A business owner's policy (also businessowner's policy, business owners policy or BOP) is a special type of commercial insurance designed for small and medium-sized businesses. [1] BOPs are cost-effective and convenient for business owners, as they provide comprehensive protection against common risks like property damage, lawsuits, and income ...
Many small businesses do not secure general or professional liability insurance due to the high cost of premiums. However, in the event of a claim, out-of-pocket costs for a legal defence or settlement can far exceed premium costs. In some cases, the costs of a claim could be enough to shut down a small business.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a ...
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