From the day an entrepreneur starts a business he exposes himself to certain risks. Even before the first employee is hired a business is at risk making it important to have the right insurance in place. One lawsuit or catastrophic event could be enough to wipe out a small business before it even has a chance to get off the ground.





Fortunately businesses have access to a wide range of insurance types to protect them against these dangers.





Here are some insurance types that a business must have in place as soon as possible.

1. Professional liability insurance.

Professional liability insurance, also known as errors and omissions E&O insurance covers a business against negligence claims due to harm that results from mistakes or failure to perform. There is no one size fits all policy for professional liability insurance. Each industry has its own set of concerns that will be addressed in a customized policy written for a business.