Errors and omissions liability insurance helps protect your business if a customer sues you for mistakes or omissions in your services. Also known as E&O insurance and professional liability insurance, this business insurance helps cover financial loss, legal fees and defense costs related to a lawsuit.
Who Needs E&O Insurance?
Many types of businesses need professional liability insurance. In some states certain kinds of professional practices are required to carry professional liability insurance. In other cases, a client may require a business to have professional liability insurance as a condition of a contract to do work. Some professionals that should consider getting coverage include:
- Attorneys and law firms
- Real estate agencies
- Accountants and financial institutions, such as accounting houses and brokerage firms
- Engineers and engineering firms
- Advertising and media firms
- Teachers and educators in private practice
- Educational businesses, like schools and colleges
- Marketing firms
- Cultural organizations, including museums and galleries
- Medical offices and healthcare facilities
- Barbershops and hair salons
- Printing and publishing companies
- Veterinary offices and pet groomers
As local, independent agents, we work for YOU, finding you the best possible rate for the right coverage. As authorized agents of Insurance Professionals of Arizona, we compare dozens of companies to find you the best options for home, auto, business and life insurance in many states. We're proud to work only with A-rated carriers so our clients can expect outstanding financial strength and superior claims service to help protect what they value most. And with over 6 decades of combined experience, you can count on the most informed advice and stellar service!
What’s Included in Errors & Omissions Insurance?
Professional Liability: Also known as errors & omissions insurance, helps cover you if you are found negligent in the professional services you provided.
Financial Harm: Helps protect you against a claim alleging that professional advice or services you provided caused a client or customer financial harm due to mistakes on your business’s part.
Personal Injury: Helps provide coverage for allegations of personal injury arising out of a professional service.
Subpoena Assistance: Helps provide legal defense if the insured is not named as a defendant, but is subpoenaed in a lawsuit requiring the insured to testify or provide documents.
Disciplinary Proceedings: Helps cover your defense in a claim brought by a regulatory board within your line of profession alleging professional misconduct.
Additional Defense Limits: Instead of having one set of limits that applies to both your indemnity and defense payments, this endorsement allows you to have limits for defense that are separate from your limits for indemnity.