A Word From Our Sponsor That You Need Error and Omissions Insurance

When a company starts to work on putting an insurance plan together it should include error and omissions insurance coverage as part of that plan. Manufacturing companies can be especially susceptible to being involved in a lawsuit. In manufacturing a product there can be unintentional defects that result in recalls. If these defects are not caught until the product is in the hands of the consumer it may be too late to avoid a lawsuit. Error and omission insurance will provide the stability your business will need to offset legal defense and court costs and give you some assurance your company will be able to keep its doors open.
Businesses that manufacture electronics are at a higher risk than other industries in being sued. Because this industry is advancing so rapidly and in new territories that didn’t exist just a few years ago, laws have not been able to keep up and a lot of the laws currently on the books don’t apply. When these types of companies get sued they are really headed into a murky area of law. A business that has obtained error and omissions insurance will be better able to offset the legal fees and court costs that could run into thousands of dollars and take years to resolve. Whether your legal fees are paid in full or in part will depend on the type of policy you have purchased.