Errors & Omissions

Overview

Some businesses involve services such as giving advice, making recommendations, designing things, providing physical care or representing the needs of others, which can lead to being sued by customers, clients or patients claiming that the business's failure to perform a job properly has injured them. Errors and omissions or professional liability insurance covers these situations. The policy will pay any judgment for which the insured is legally liable, up to the policy limit. It also provides legal defense costs, even when there has been no wrongdoing.

Classes	Many professionals need this coverage.  Speak to your Account Manager if you have a question concerning a client's exposure to a professional liability loss.
What is Required / Forms	Ask your Account Manager for the company forms
Direction for Submissions	Submissions should include applications, five years of loss history financials & any supplemental applications a company may require
Insurance Company Rating	All Carriers are “A” Rated
Territory
Coverage	Professional liability insurance protects companies and individuals against claims made by clients for inadequate work or negligent actions. Errors and omissions insurance often covers both court costs and any settlements up to the amount specified on the insurance contract. Read more.
Deductibles	Staring at $1,000
Marketing Material	Ask your Account Manager
Premium Financing	Yes
Notes