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Professional Liability Insurance, E&O

Professional liability insurance, also known as errors and omissions (E&O) insurance, is a coverage for businesses that offer professional and personal services. E&O insurance protects your business assets from claims that may result from advice, expertise, or professional services you provide. You could be at risk for being sued by a customer, client, or other party who claims he or she lost money or was harmed in some way due to a negligent act, error, or omission. For instance a client or customer may claim that you:

  • Failed to perform promised services
  • Was negligent in rendering services
  • Provided bad, incomplete, or incorrect work
  • Made mistakes or oversights

Regardless of the merit of these claims, your coverage pays for your legal defense, as well as any judgments or settlements that your business may have to pay to compensate the suing party, up to stated policy limits.

Who needs E&O Insurance?

When you think about professional liability or E&O insurance, you think doctors, lawyers, accountants, architects, etc. But, if you are in the business of providing a service to clients for a fee, you have an E&O exposure and need professional liability insurance. This includes businesses like advertising agencies, printers, web hosting and tech companies and event or wedding planners. You need to consider what will happen if the service is not done correctly or on time, and it ends up costing your client money or harms their reputation.

By not purchasing an E&O policy, a company may be taking a serious financial risk. These losses are not covered under general liability or business owner policies.

Contact us today

There is no “one size fits all” professional liability insurance policy. You have many options and variations to consider. The experienced and knowledgeable professionals at Linda A. Christ Insurance Agency make the process an easy one.  We’re happy to review your current policy and make suggestions to limit your exposure. Contact us today to discuss your business and specific or unique professional liability needs.