What is Errors and Omissions Insurance (E&O)

What’s covered in E&O insurance?

Errors and Omissions Insurance (E&O insurance) is a type of liability insurance that specifically covers professionals and businesses for claims arising from errors or omissions in the course of their work. It is also known as professional liability insurance, and it's designed to provide financial protection for professionals who provide advice or services to their clients.

E&O insurance can help protect professionals from financial losses due to claims of negligence, errors, or omissions that result in financial loss for the client. It can provide coverage for legal defense costs, settlements or judgments, and other expenses associated with a claim.

Some examples of professionals and businesses that might need E&O insurance include:

• Accountants

• Architects

• Engineers

• Financial Advisors

• Real Estate Agents

• Insurance Agents

• IT consultants

• Lawyers

• Marketing agencies

• Consultants

E&O insurance is not legally required, but it is highly recommended for professionals and businesses that provide advice or services to clients as it can provide important financial protection in the event of a claim. It's advisable to work with an insurance broker to determine what types of coverage your business needs, and to shop around and compare policies to find one that best meets your needs and budget.

Speak with one of our brokers today and see how we can help you get E&O insurance