Errors & Omissions

Errors and Omissions (E&O) is a type of liability insurance that protects businesses and professionals if a client claims they made a mistake, gave incorrect advice, or failed to perform a service properly. The coverage is also known as Malpractice and Professional liability.

Even experienced professionals can make errors, misunderstand a client’s needs, or overlook important details. When this happens, a client may claim that the mistake caused them financial loss. E&O insurance helps cover legal defense costs, settlements, and judgments related to these claims.

This type of insurance is especially important for professionals who provide services or advice, such as real estate agents, insurance agents, consultants, financial advisors, medical and technology professionals. But, coverage is also available to anyone who has knowledge beyond that a normal person would have and this includes beauty consultants, contractors, pet groomers, etc.

Without E&O coverage, a single lawsuit could cost thousands of dollars in legal fees and damages.

E&O insurance typically covers claims related to negligence, misrepresentation, inaccurate advice, or failure to deliver a promised service. However, it usually does not cover intentional wrongdoing, criminal acts, or bodily injury and property damage, which are either not insurable or covered by other types of insurance.

Overall, Errors and Omissions insurance provides financial protection and peace of mind for professionals. It allows them to focus on doing their work while knowing they have protection if a client claims that a mistake or oversight caused them harm.

Contact us today to learn more about protecting your business and reputation.