It’s no secret that 2008 was a financial bloodbath. Millions of investors lost trillions in net worth. And hundreds of thousands more Americans have lost their jobs and with them, their ability to stay afloat financially. Well, you know what happens when financial catastrophe and water mix. You get a lot of blood in the water. And blood, along with survivors thrashing on the surface, attracts those who would benefit from misfortune–sharks. In times like these, your best defense is to triple-check your moral compass. If you continue to do business with a strong commitment to ethics and integrity, you will greatly minimize the odds of a shark attack.
However, doing business ethically is just the first step. The second is to purchase a high-quality errors and omissions (E&O) policy that is properly designed for your type of business. Being insured won’t necessarily prevent an attack. But it will minimize the aftermath of one, allowing you to swim to shore and get on with your life.