Errors and Omissions (E&O)


What is Errors & Omissions (E&O) Insurance?

Errors and Omissions or E&O as it is commonly called, is a form of professional liability that protects companies or individuals against claims of negligence or work completed that was deemed inadequate.

What does E&O Cover?

  • Court Costs
  • Court settlements

When to consider buying Errors and Omissions:

If you are in the professional service sector:

  • Lawyers
  • Insurance Agents
  • Consultants
  • Finance
  • Certain non-profits
  • And many more..

Companies or individuals in these industries often require E&O Coverage in order to maintain their license. In addition, most claims against E&O occur in these sectors as well.

Example of a typical E&O claim would be: a financial advisor is asked by a client to sell a certain amount of a specific investment they have held for years. The Advisor makes a mistake and fails to remember to sell the investment. Overnight the investment losses significant equity and the client then sues the advisor for failing to provide the services as promised. Fortunately, the advisor has E&O insurance in place and any court fee’s or settlement cost are covered under his insurance.

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