Professional Liability Insurance
(Errors & Omissions)
What is professional liability insurance?
Professional liability insurance, also called errors and omissions or E&O, protects your business if a client claims your professional work caused them a financial loss.
Even if you haven’t done anything wrong, you still need to defend your company and get legal costs covered.
What does it cover?
It commonly covers for:
Alleged or actual negligence
Services performed in the past (depending on your coverage)
It can help pay for:
Defense costs and legal costs, including attorney fees in these cases
Any settlement or judgment you’re required to pay
Who needs it?
Do you provide services for a fee?
Do you regularly give advice in your business?
Are you required by your clients to carry E&O?
If you answer yes to any of these questions, you should consider purchasing this coverage.
Let’s face it–we live in a litigious age. You could be sued even when you did everything right, yet be stuck paying thousands to defend yourself in a lawsuit anyway.
How do I get started?
Be as detailed as you can. You will want to get together your resumes, contracts and financials, and your employee handbook. Many insurers will request copies to provide the most favorable rate.
The more information you provide on your quality control procedures and/or training procedures, the better. We want to find you the best coverage at the best rate.
