Errors And Omissions Insurance Carriers

Even if claims are found to be unwarranted legal fees and other related expenses can quickly eat up a company s cash reserves in no time causing a financial hardship.

Errors and omissions insurance carriers. If they are sued for harming another person or business errors and omissions insurance which is sometimes referred to as e o insurance can help cover related financial losses. Errors and omissions insurance e o. Some policies do not even pay for attorney s fees. The most common pricing options we see between companies are grouped into three overall packages.

Negligence misconduct errors and omissions breach of duty misleading statements or any other act that could be held against you in your capacity as a director or officer. Errors and omissions insurance policies vary from company to company and are written to reflect inherent risks and common exposures particular to different types of businesses. Errors and omissions insurance seems to be more expensive for p c agents but also harder to qualify for. Professional liability insurance pli also called professional indemnity insurance pii but more commonly known as errors omissions e o in the us is a form of liability insurance which helps protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client and damages awarded in such a civil.

These insurance companies highlight the significance of errors and omissions coverage in protecting the agent as well as the other parties. We provide errors and omissions e o insurance coverage to companies nationwide. Errors and omissions is a special kind of insurance for professionals who provide services or advice the insurance information institute iii says. Errors and omissions e o insurance for physicians surgeons and dentists with additional operations what professional liability insurance is professional liability insurance also called e o insurance or malpractice insurance covers small business owners when clients claim the business owner did not meet professional standards by making mistakes giving bad advice or behaving negligently.

Nevertheless insurance policies are not created equal some e o policies pay for defense expenses but not losses. Errors and omissions insurance also known as e o insurance and professional liability insurance helps protect you from lawsuits claiming you made a mistake in your professional services this insurance can help cover your court costs or settlements which can be very costly for your business to pay on its own. Call today for a free quote.