One of the biggest deterrents of this type of insurance is in its oversight. Businesses carry all types of insurance, from property insurance to workers compensation insurance to personal injury insurance for all employees. These policies protect all aspects of business: property insurance protects the equipment, physical location and any surrounding property from theft, disaster or other damage; workers compensation insurance protects the company and it’s employees in the event of an accident. However, many companies overlook the need for error omission insurance, as it is rarely needed.