What Is Errors and Omissions Insurance?
Go beyond General Liability with Errors and Omissions Coverage. Errors and Omissions (E&O) Insurance is sometimes referred to as professional liability insurance. This type of insurance protects you when a client files a lawsuit against you on the premise of professional mistakes, negligence, or the failure to produce promised services.
E&O Policies Typically Cover:
- Attorney fees
- Court costs
- Settlements and judgments
Common industries that have E&O insurance are Internet Technology, Architecture, Accounting, Healthcare, Consulting, and Real Estate. However, E&O Insurance is good to consider if you provide any services that can severely affect a client’s bottom line.