Professional Liability (Errors & Omissions) Insurance
Errors and omissions insurance, short for E&O insurance or professional liability insurance, helps protect you from lawsuits claiming you made a mistake in your professional services. If someone sues your business for making a mistake, your E&O policy can help cover your attorney & court fees, your settlements & judgments along with administrative costs. This is a 3rd party claims-made insurance of mistake or misrepresentation while providing a professional service.
Many clients require this important coverage as it will protect them if you are negligent and cause them financial harm. As they count on you to provide products and services, be confident, and gain further trust by having professional liability if you make a mistake and are in need of a risk management solution.
Protect your life’s hard work and invest in mitigating financial risk and secure your business assets should you face liability claims due to unintentional error or negligence at your end. E&O/Professional Liability insurance is an important coverage and will help you from facing financial ruin.
For protection from claims of malpractice or improperly performed services, you need errors and omission liability insurance. It protects your company in case a disgruntled client or a third party thinks your business has something wrong (even if it hasn’t) and decides to sue you. It will cover your legal fees to fight the case in court. If it turns out your company did make a mistake, it will cover any damages for which you are liable.
Errors & omissions (E&O) insurance, also known as professional liability insurance, is designed to protect your business from claims that you:
Failed to provide professional services.
Provided services in a way that caused financial damages or some type of harm to the client.
E&O insurance provides protection for any representative of your business, and the business itself. Professional liability coverage generally applies to individuals who provide services directly to clients of the company. Types of claims covered by errors and omissions liability insurance include:
Errors and omissions insurance will cost a different amount for every company. We will provide quotes for your company based upon your business risk, clients & contracts, coverage limits, claim history & location! We offer a quick turnaround by collecting necessary details upfront which cuts down the underwriting time significantly and binds the policy as soon as you are ready!
Errors & Omissions insurance changes from business to business and can be very complex. The right coverage for your business depends on the class of business and its exposures. The coverage terms and availability changes depending on the service being provided.
E&O is needed by service-focused industry including but not limited to: