Errors and Omissions (E&O) insurance, also known as malpractice insurance or professional liability insurance, is a type of policy that protects professionals in the event they are accused of wrongdoing by their clients or customers. Almost all professionals that serve the pubic carry E&O insurance such as doctors, lawyers, accountants, event planners and realtors.  

Farmers, ranchers, winemakers and other agricultural producers face unique risks associated with their property, vehicles, equipment, crops and animals. One misfortune could mean the loss of livelihood and financial disaster. Agricultural insurance is available to provide protection from losses for the various aspects of the farming business. These businesses vary in size, products produced and assets, so insurance companies generally sculpt policies to meet specific coverage needs ranging from insuring animals to insuring crops. 

More than 24 million entrepreneurs operate businesses out of their homes. Whether a masseuse, an accountant, a baker or a computer consultant, each should consider the insurance needs of their home-based companies.

Many business owners mistakenly believe that their homeowner’s policies cover the property and operations of their business. However, most homeowner’s policies cover only $1,000 to $2,500 for business equipment and offer no liability protection or loss of income coverage.

Although U.S.-based businesses may not be physically affected by natural disasters in other parts of the world, they may be financially affected if they are subject to losses due to interdependencies with oversea suppliers.

Business owners who depend heavily on suppliers should have Contingent Business Interruption (CBI) insurance and Contingent Extra Expense coverage.

Plagued by skyrocketing medical costs, arbitrary medical decisions and escalating legal challenges to treatment, the workers’ comp system in California was in crisis in the late 1990s. By 2003, at the height of the crisis, employers were paying out $6.45 in insurance premium per $100 of payroll, and insurance companies were paying out $1.86 in claims costs for every $1.00 of premium collected.