Errors and Omissions Insurance

The simplest clerical error or proofreading mistake (even made by a trainee) can cost you, if it results in financial loss or damage to the reputation of one of your customers.

That’s why it’s important to understand the extent of your business liability insurance—it only protects your operation against bodily injury, property damage or advertising injury.

But what happens when you, one of your employees, or a vendor fails to catch something that your customer doesn’t miss, and they hold you responsible?

They can not only refuse to pay, they may also sue you for damages.

But with an errors and omissions (E&O) insurance policy, you’ll enjoy specialized liability protection against losses not covered by traditional business insurance.

Who needs E&O insurance?

You should consider E&O insurance if you’re in the business of providing services to clients for a fee, if your service is possible to be done incorrectly or late, and it costs your client money or harms their reputation.

For example:

  • Doctors and dentists
  • Lawyers
  • Accountants and financial planners
  • Architects and engineers
  • Wedding and event planners
  • Building-trades contractors
  • Mortgage and real estate services
  • Designers and printers
  • Advertising agencies

What does E&O cover?

Errors and omissions protects you from claims in the event a customer or client sues your business for:

  • Negligent acts which potentially result in a financial loss for the client
  • Errors or omissions occurring during business activities

Errors and omissions insurance policies usually cover the business owner, both salaried and hourly employees, and subcontractors working on behalf of the business.

Errors and omissions insurance can be customized to meet your specific needs, no matter what your business or industry. Real estate agents face different risks than printing companies, but both have potential to impact their customers lives and livelihoods if a mistake occurs.

Benefits of a specialized E&O policy may also include:

  • Coverage of temporary staff, full-time employees, and independent contractors.
  • Past work covering unforeseen claims arising from work completed before you were even insured, to a pre-agreed date.
  • Worldwide coverage as long as the claim is filed in the U.S., one of its territories or Canada.
  • Claims responsiveness when time is of the essence, especially in the event of an insurance claim.
  • Tailored coverage for the specific risks of your field and industry.
  • Knowledgeable agents who provide exceptional, passionate service.
  • Coverage for contracts satisfying most standard contract insurance requirements.

We're here to help

It’s not about your professionalism, training, or years of experience. It’s about human nature. Mistakes happen to the best of us, no matter how experienced.

If you would like to learn more about E&O insurance, please do not hesitate to contact us. We are always happy to assess your needs and answer any questions.