Insurance Agents & Brokers Professional Liability
Allied Medical Professional Liability
Lawyers Professional Liability
Architects & Engineers Professional Liability
Real Estate Agents & Brokers Professional Liability
Directors & Officers Professional Liability
Miscellaneous Professional Liability
  What Is Errors And Omissions (E&O) Insurance?
  Errors and Omissions Insurance is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third party administrators and other business professionals. An error or omission, a mistake, which causes financial harm to another, can occur on almost any transaction in any profession. This type of insurance helps to protect a professional, an individual or a company, from bearing the full cost of defense for lawsuits relating to an error or omission in providing covered Professional Services. This is a separate coverage from a standard general liability or property insurance policy.
    Errors and Omissions Insurance may be referred to as any of the following:
  E & O
  E&O Insurance
  Errors Omissions
  Errors & Omissions
  Professional Liability
  Professional Liability Insurance
  Malpractice (legal and medical professionals)
  What Does Errors and Omissions Insurance Cover?
  All E&O insurance policies are unique and therefore have different coverages and exclusions. However, in general E&O insurance is designed to help pay for defense costs and the damage awards associated with professional liability claims. Even the most diligent professional can be held liable for a professional error, omission or mistake. Defense costs are a significant portion of the cost of an errors and omissions insurance policy. It is not uncommon for a professional to spend thousands of dollars on defense costs for a matter that ultimately gets dismissed.

A Professional liability claim must allege negligence in either the performance of or failure to perform Professional Services. Errors and omissions insurance policies have a specific limit of liability and usually include both legal costs and damage awards in a single limit. E&O insurance does not cover intentional, fraudulent or illegal activities or in most policies, punitive damages.

Remember all policies are unique, therefore not all claims may be covered in a policy and you should read your policy very carefully.
  Why Should My Firm Purchase Errors and Omissions Insurance?
  Lawsuits aren't just about negligence; they are about allegations of negligence. We live in a litigious environment where any professional can be sued. Many innocent parties are brought into a suit simply because they are part of a transaction. In other words, the alleged error or omission does not have to be your error or omission. Defending the reputation of your business, whether the allegation is frivolous or not can still result in lost productivity and legal costs exceeding hundreds of thousands of dollars.

Errors and Omissions Insurance allows you plan ahead and transfer a portion of the risk of unpredictable legal expenditures to the insurance carrier, reducing the financial impact of an allegation against your business.
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