When your business of choice provides a service to people, E & O insurance is a wise purchase. E & O stands for Errors & Omissions or professional liability insurance. It will protect you from being held responsible if work you are contracted for is not performed as agreed. Being sued is the worse possible scenario for a small business owner. One successful law suit can wipe out any company funds in hand and to be made. Even if you have no intentions of not fulfilling a contract sometimes things happen beyond your control. Keep Murphy’s Law in mind, “If anything can go wrong it will. “ It doesn’t matter how careful you are there is still the chance someone else working for you could make the mistake.