Business insurance can help provide protection against unexpected events and accidents, such as payroll errors or work vehicle collisions.
As a payroll administrator, accountant or financial advisor, you’re almost always required to have insurance to obtain a professional license and manage client accounts.
Financial service companies often purchase these two types of insurance for liability coverage:
Professional Liability insurance
Professional liability insurance, also known as errors and omissions insurance (E&O), can help protect you if you’re accused of making a professional error — whether it’s true or not.
For instance, professional liability insurance for accountants could help pay for legal defense costs if a client claims you made a miscalculation on their tax return and sues you for damages.
Learn more about Professional Liability insurance.
General Liability insurance
A general liability insurance policy can help provide coverage for physical injuries at your office or accidental damage to someone’s property.
This type of liability insurance could provide financial help for medical payments, legal fees and judgments.
Learn more about General Liability insurance.
