ERRORS AND OMISSIONS INSURANCE
Good advice: Protect your advice.
It’s important to protect employees and employers against clients’ claims of negligence or inadequate work. E&O policies can cover legal costs associated with claims and ensuing settlements.
Consider our errors and omissions insurance services.
Errors and Omissions (E&O) is a form of liability insurance that helps protect professional advice and service-providing individuals, and companies, against the full cost of defending negligence claims made by a client, as well as damages awarded in a civil lawsuit.
Coverage focuses on alleged claims of inadequate work or negligent actions. These are causes for legal action that are not typically covered by a more general liability insurance policy. Professional liability insurance may take on different forms and names depending on the profession. Sometimes coverage is required while under contract by other businesses that are the beneficiaries of the advice or service.
Who needs errors and omissions insurance?
E&O insurance is a smart option for many different types of businesses. Including anyone who gives professional advice, makes educated recommendations, designs solutions, or represents the needs of others. E&O insurance is especially important for any company in the building trades, accounting and law firms, real estate agencies, and technology consulting firms.
How much E&O insurance do I need?
The amount of errors and omissions coverage you need varies depending on business type and level of risk. Errors and omissions coverage typically covers costs up to a predetermined dollar amount. Other facts that will impact cost include the size of your business (including number of employees), annual revenue, business location and state, and the coverage limits you are comfortable purchasing.
We’re here to help you succeed.
Let Marshall+Sterling help you determine the right E&O insurance for your organization. Reach out to us today to learn more.
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