Errors and Omissions Insurance

Protect your business from devastating lawsuits


What is Errors and Omissions Insurance?

Professional Liability insurance, also known as Errors and Omissions insurance (E&O), protects you and your small business against client charges of negligence or injury for the professional services you provide. Whether you are at fault or not, you are protected against losses, attorney fees and even court costs.

Medical malpractice coverage is a specialized form of liability insurance that protects physicians, nurses and other medical practitioners from claims or litigation from disputed services that may have brought injury or a negative experience to the patient.

Do you need Errors and Omissions insurance?

Small businesses that provide a specific service, such as technology, insurance, accounting, tax, wealth management, legal and other types of professional services need this type of coverage. In many cases, if you enter into a contract with a client you will be required to carry E&O. Professional liability insurance can eliminate coverage gaps, protect your financial livelihood and save you money through bundling

Recommended for professionals including:
  • Doctors
  • Lawyers
  • Accountants
  • Nurses
  • Caregivers
  • Counselors
  • Social Workers
  • Accountants
  • Engineers
  • Insurance agents
Do you need medical malpractice insurance?

Medical liability insurance is required in most states, and most medical facilities need medical malpractice coverage to provide care. The type and amount of insurance you need will depend on your state's minimum requirements and the amount of protection you need for your specialty.

E&O trends: what our experts are saying

The market has seen consistent rate increases over the past few years, although the pace has started to moderate. This is due to higher claim frequency, increased litigation costs and a more litigious environment. While there is still capacity, insurers are more selective and require more detailed information from insureds, making the renewal process more challenging. Our small business experts understand the market and can help you secure appropriate E&O coverage.

An E&O policy protects you from:
  • Alleged or actual negligence
  • Personal injury
  • Copyright infringement
  • Punitive damages
  • Claims against services previously performed
  • Claims against temporary staff and independent contractors
  • Related defense costs
Consider this claim scenario

An independent household appliance installer incorrectly wired a new 220-volt receptacle, which resulted in a new commercial-quality oven malfunctioning. The oven was damaged, and a new unit had to be installed. The installer and his small business were found liable for a $6,750 claim.

Want to learn more? Contact our small business risk experts

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