Making mistakes, giving the wrong advice, or neglecting to do something you told a customer you would can damage your reputation and prove costly. Especially if that mistake, error, or oversight causes one of your customers financial or reputational harm.
If it does, you may be liable for their losses, and they could sue you for thousands of dollars. Contrary to popular belief, Canadian consumers wouldn’t hesitate to sue a small business owner or independent professional if they felt wronged in some way.
And while anyone can make a mistake, if you make one that leads to an allegation of professional negligence or a poor work claim against you, you’ll wish you had errors and omissions (E&O) insurance to help deal with the ramifications.
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