Errors & Omissions Insurance
Errors and Omissions (E&O) insurance protects you against the errors you make when providing a professional service to your clients and customers. Otherwise known as Professional Liability Insurance, Errors and Omissions insurance covers defense costs, judgment, settlements and fines or penalties resulting from the allegations of misrepresentation, breach of professional services, wrongful business practices, misleading advice and conflict of interest.
That’s why you have Errors and Omissions insurance. Should you provide a service, or offer a client advice that backfires, your Errors and Omissions insurance will back you. In each of the cases, the company’s Errors and Omissions insurance covered the liable business, financing defense costs, settlements and regulatory penalties, when applicable.