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Errors & Omissions Insurance
(professional liability)
If your company provides data, information, professional services, or any advice to any third parties, then a Professional Liability (aka. errors & omissions) policy should be considered. This insurance protects your business from claims and financial damages that arise from your services. For example, say your a business that collects LiDAR data for a construction company. After providing the mapping information to your client, they decide to sue you for incorrect information. The insurance carrier will defend you and potentially pay out losses associated with the claim.