What is Errors & Omissions Insurance?
Professional Liability Insurance (also known as Errors & Omissions Insurance, or E&O) protects professionals if a client alleges that you were professionally negligent, failed to perform professional duties, or in the case of the failure of your work to perform as promised in your contract.
Who should purchase E&O Coverage?
Please Note: If you do not see your profession listed above, do not hesitate to request a quote. We may be able to place a policy for you.
Why Do I Need Errors and Omissions Insurance?
Mistakes Happen. Even the most skilled professionals are likely to make an error at some point. A mistake that shuts down you client's business for hours, unexpected failures or human oversights can result in a lawsuit.
You Can't Be All Places At Once. As your firm becomes more successful, you may not be able to personally handle every job. Errors & Omissions coverage insures not only your mistakes, but also the mistakes of the employees and independent contractors you hire. Request A Quote
Some of your clients may require that you and your subcontractors carry Errors & Omissions insurance. The right kind of E&O policy can protect both the consulting firm and subcontractors from claims of a perceived error or omission, even if the problem occurs months after the initial consultation. Request A Quote
The high cost of a legal defense could put you out of business. Your company's survival and your personal financial security depend upon protecting yourself against the impact of a lawsuit.
What Is Covered by Professional Liability Insurance?
Professional Liability Insurance covers the negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice that may occur while practicing your professional service, this includes legal defense costs - no matter how baseless the allegations. It will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy.
Doesn't My General Liability Insurance Provide the Same Protection?
Errors and Omissions insurance coverage is not provided by a Commercial General Liability policy. Commercial General Liability does NOT provide coverage for programming errors, contract performance disputes or any other Professional Liability issues. Consultants and companies who have General Liability without Professional Liability (Errors & Omissions) coverage are taking a serious risk. It's like a doctor practicing medicine without Malpractice Insurance. Request A Quote
Customized Liability Insurance Coverage
Your Professional Liability Insurance policy can be customized to include:
- a business owners package that includes general liability insurance and property insurance
- options including coverage of Personal Injury claims
- defense costs outside the limits of liability
- deductibles beginning at $0
Contact Brunswick Companies today at 800-686-8080 x4225 or click to request a professional liability insurance quote.
For additional information, see our new Handbook, Errors & Omissions Insurance: A Beginner's Primer.