Errors and Omissions Insurance
It’s not about your professionalism, training, or years of experience. It’s about human nature. Mistakes happen to the best of us, no matter how experienced.
Yes, you can be sued, even if you didn’t do anything wrong
The simplest clerical error or proofreading mistake (even one made by a trainee) can cost you, especially if it results in financial loss or damage to one of your customers' reputations. That’s why it’s essential to understand the extent of your business liability insurance since it only protects your operation against bodily injury, property damage, or advertising injury.
Who needs E&O insurance?
- Doctors
- Lawyers
- Accountants
- Architects
- Engineers
- Wedding planners
- Publishers & Printers
- Building-trades contractors
- Designers
- Advertising agencies
- Consultants
What does E&O cover?
Errors and omissions protects you from claims if a customer or client sues your service business for negligent acts, errors, or omissions occurring during business activities, which could potentially result in a financial loss for the client. Errors and omissions insurance policies usually cover the business owner, both salaried and hourly employees, and subcontractors working on behalf of the business.
Errors and omissions insurance can be customized to meet your specific needs, no matter your business or industry. Real estate agents face different risks than printing companies, but both have the potential to impact their customers' lives and livelihoods if a mistake occurs.
Benefits of a specialized E&O policy may also include:
- Tailored coverage for the specific risks of your field and industry
- Coverage of temporary staff, full-time employees, and independent contractors
- Past work, covering unforeseen claims, arising from work completed before you were even insured, to a pre-agreed date
- Worldwide coverage as long as the claim is filed in the U.S., one of its territories, or Canada
- Claims responsiveness when time is of the essence, especially in the event of an insurance claim
- Knowledgeable agents who provide exceptional, passionate service
- Monthly payment options to help spread out your payments, so you can better manage your cash flow