As part of doing business in New Jersey (NJ) and elsewhere, liability insurance is a necessity for attorneys, financial advisors and insurance professionals. It protects you from unintended mistakes that may cost your clients money. NJ errors omissions insurance is a valuable investment in your business and your life. When you’re shopping for insurance, remember to cover the points below.
Legal and Court Costs
If a client sues to recover losses due to an error on your part, you can count on paying attorney fees, filing fees and other court costs that can add up quickly. Make sure you’re shielded from lawsuits with NJ errors omissions insurance.
Coverage for Retirement
If you want to rest easy during retirement, you need to plan for it. Claims can still be filed against you long after you’ve left the business, so be sure to include coverage for claims following retirement.
Employee or Administrative Coverage
If you have employees, whether they’re financial experts or administrative staff, you need protection should they make an error or forget an important task. You are accountable for their actions, and should you die, your spouse and family members may be named in a lawsuit.
NJ errors omissions insurance is your protection from all of these incidents and more. Work with your insurance professional to ensure you have the coverage you need.