With the same purpose as E&O Insurance, professional liability insurance is designed to protect your company and your workers against various problems that can arise with advice-or-service-based businesses. This can include claims of errors, omissions, inadequate work and negligent actions. It can help to cover legal costs if your business is sued for any type of negligence, whether you actually made the mistake you’re being accused of or not.
If you work by contract, you provide professional services, and/or you provide professional advice, then your company should have professional liability insurance and/or errors and omissions insurance.
When you have professional liability insurance for your logistics and transportation business, you will be financially covered if an unforeseen issue arises with a client. It covers mistakes, services provided or not provided by your company that result in damages, oversights, misunderstanding, claims for libel and slander, and more. If your business is sued because of any perceived negligence or error, you won’t have to worry about financial ruin because your professional liability insurance can help to cover the associated costs.