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Directory of commercial errors and omissions (E&O) insurance, also known as professional liability insurance. Search listings for errors and omissions insurance quotes to find the best errors and omissions insurance coverage for your business needs.
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The Basics of Errors & Omissions Insurance

IntroductionAs a professional, you’re expected to have superior training and knowledge in your area of expertise. State licensing agencies and your professional association hold you to a high standard.

Errors & Omissions Insurance Basics

When you understand the errors & omissions insurance basics it can help you protect your company in the event of losses associated with a customer lawsuit. Due to a considerable increase in customer lawsuits, many business owners have chosen to safeguard their assets with E&O insurance.

Errors & Omissions Insurance Key Terms

Errors and Omissions insurance, usually called E&O insurance, covers parties involved in a service-type business in the event they are sued for errors, omissions or failure to perform services as expected. In the medical field, it's called malpractice insurance, and lawyers call it professional liability.

The Ins and Outs of Errors and Omissions Insurance

Jul 19, 2004 ... Almost all agents have clients with errors and omissions (E&O) exposure and the most difficult job the agent may have is convincing the client ...

Professional liability insurance - Wikipedia, the free encyclopedia

[edit]. Errors and omissions (E&O) insurance, which may exclude negligent acts other than errors and ...

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Errors and Omissions Insurance - E & O Insurance for Small ... - Hiscox

Hiscox tailors errors and omissions insurance to fit your specific field. Coverage from $22.50/month. Get a fast, online quote now.

Errors and Omissions Coverage - What Does E and O Insurance ...

Learn what is and what isn't covered under Errors and Omissions (E&O) Insurance, and why this coverage is important for your business.

Errors and omissions liability insurance - Nationwide

Learn how to protect your business with the purchase of errors and omissions insurance, also known as E&O, from claims for negligent acts, errors or omissions  ...

Errors And Omissions Insurance - (E&O) Definition | Investopedia

... or negligent actions. Errors and omissions insurance often covers both court costs and any settlements up to the amount specified on the insurance contract.

Life & Health Agent Errors and Omissions Insurance

Errors and Omissions Insurance for Life & Health insurance agents offering three coverage options and truly affordable rates as low as $374 for new agents.

Professional Liability | Error and Omissions Protection | Travelers ...

Professional Liability Insurance (errors and omissions) provided to accounting, design, legal and real estate professionals. Professional liability insurance ...

GEICO | Professional Liability Insurance Quote ~ Call for a ...

Professional liability insurance, also known as errors and omissions insurance ( E&O), is a coverage for businesses that offer professional and personal services.

HMS National Errors And Omissions Insurance

Risk management company specializing in real estate errors and omissions insurance.

www.hmsriskmanagement.com
Property Managers Insurance /Preferred Property Progam, Inc.

All lines of insurance for property managers including professional liability, Property Managers E&O, Auto Insurance, Package Policies, & Umbrella

www.propertymanagersinsurance.com

Errors and Omissions Insurance


Errors and omissions insurance coverage is a must for any business that offers consulting, services, or advice to buyers. This includes real estate agents, travel professionals, architects and accountants, just to name a few. Errors and omissions insurance is a form of professional liability insurance that covers the cost of legal defense in the event of a client lawsuit against you and your company.

In 2012, statistics showed that 1 out of 7 of every insurance agent will report and EO claim at some point during their career (Tilinghast Survey). When you acquire your business liability insurance coverage, be sure to include an errors and omission policy to cover you in case of:

  • A client lawsuit, claiming errors made by your company, resulting in a loss to them.
  • A service that was delayed and caused a client financial damages.
  • Any business mistake or misunderstanding that results in a loss to the client.

Be sure you’re employees are covered as well with workers’ compensation insurance from a Business.com vendor.

Finding the Right Insurance Agent

Errors and omissions insurance coverage is sold through commercial insurance companies and independent agents that specialize in such coverage. It’s a good idea to get quotes from a few different agents or companies and choose one whom you are comfortable working with, or one who has experience working with your type of company.

Some questions to ask before making your decision:

  • Have you worked within this industry before?
  • Will we have a dedicated agent?
  • Is there an online portal we can use to manage our options?

Deciding on the Right E&O Coverage

Errors and omissions coverage varies to suit a wide range of industries. Types of coverage and premiums depend on your business, the risk exposure involved, your business location, the number of employees and other factors. A good business insurance agent or insurance company can help you make sense of all of your options and make sure you are completely covered.

  • Have a professional look through your contract before signing anything; consider asking your lawyer or accountant.

Adopt Good Business Practices to Avoid E&O Claims

Good business practices, such as putting all client contracts and communications in writing and structuring a business plan that identifies and incorporates specific business exposures, will help ensure that your business has few, if any, E&O claims. In addition to keeping your clients happy, having few claims can award you a lower insurance quote.

  • Remember to review your business E&O insurance policy requirements periodically. Your coverage will need to be updated as your business and assets grow.
  • As your business grows, consider hiring a corporate attorney to assist you in developing good business practices to guard against product or service liability issues and offer sound advice for errors and omissions claims.

Everyone makes mistakes, so E&O insurance is a necessity for any business based around consultation. However, client lawsuits and judgments can damage or even bankrupt a small business, when taking to account that the average cost per settled claim is in excess of $16,000. Errors and omissions business protects your practice if you for one reason or another fail to work or perform as promised in your contract.

If you are interested in errors and omissions insurance, you may also want to consider purchasing liability insurance from one of our qualified vendors.