Many companies will require E&o before people will work for them because of the protection it provides them. There have been many times where people are held responsible for the company, and large personal and business losses occurred. Companies, both large and small, should have the necessary protection for any representative of their organization in order to fully protect assets. Here are just a few ways someone may find the protection necessary when they are working for others.
Personal assets are often brought into a liability case because they are not exempt. Many people will fight for everything the representatives have because they know they have made some money carrying out their duties for the company. When E&o is provided, however, all costs associated with the battle will be covered. Many representatives will be able to carry out their daily duties for the company without worrying about coming up with money to defend themselves. Even companies that are started and operated by one person can benefit from this insurance. They can keep operations running without having to lose all they have worked for. Examples of smaller businesses that require E & O are lawyers and insurance management consultants. They both have a lot to provide for their clients, but they have to ensure there is no way their hard-earned assets are lost from a lawsuit. Many organizations should consider this insurance before they start working with clients. Click here to learn more.