When clients come to your business, they probably don’t ask about your own insurance coverage. However, when you’re handling large accounts that want to know what happens if you make a mistake, you can provide assurance in your skills when you tell them you have insurance agent professional liability insurance.
Errors and Omissions insurance, or professional liability insurance, protects you in case a mistake is made. Most people understand how important this is for doctors or CPAs, but as an insurance agent you can make mistakes yourself. What if you wrote a policy for 1,000,000 that should be for two million? Maybe you didn’t send in some paperwork on time? Your clients would be very upset if they needed the insurance coverage and due to some fault of your agency, it wasn’t available.
Having E&O insurance tells your customers that they can trust you with their business. You know the importance of being accurate and on time, but you back up your words with insurance that protects your assets and theirs if there ever is a mistake. This builds credibility with clients that you can’t get just by talking to them.
It’s very common in certain industries that they require professional liability insurance when handling large jobs. Your business deserves the same protection when you’re handling big accounts that could have an expensive fallout if the worst happens. Protect yourself with insurance agent professional liability.