Errors & Omissions Insurance

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What is Errors & Omissions Insurance?


What is important about E & O Insurance Coverage?

Insurance agents need insurance, too. So might realtors, wholesalers and retailers. Even unintentionally, a business’s affairs might harm someone else. If that’s the case, you might owe money or other damages to those people. So if you’re in these businesses, what do you do?

Professional services need a variety of liability policies to protect their own assets. Among these is Errors & Omissions (E&O) coverage. It’s a valuable form of insurance that companies shouldn’t go without. Let U.S. E&O Brokers be your agency of choice in insuring your own business.

What is Errors & Omissions Insurance?

Every business wants to provide exceptional services. But sometimes, mistakes happen. In a nutshell, an E&O policy can cover companies and individuals from claims that they provided inadequate services or business advice to their clients.

Clients expect you to do their work correctly. Failing to provide the correct services could put clients at risk. It might cause them to experience financial or other personal harm. They might hold you or your business responsible for any resulting damage or losses. Your E&O policy can help you cover costs and legal issues resulting from these allegations.

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Why You Benefit from E&O Coverage

You can introduce risk management practices. You can implement strong oversight. But, at the end of the day, no business is immune to mistakes. And when those happen, they might affect your bottom line. In a world where liability lawsuits are very common, you don’t want to experience hardships if you owe someone else because of a mistake.

That’s where E&O insurance coverage can step in. It insures targeted liabilities that originate from problems in your customer service process, chain of command or other dealings. Even if you have strong general liability coverage, you might not have the right kind of protection to specifically target professional risks. E&O insurance can help fill in that gap.

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Why Do You Need Errors and Omissions Insurance? 

Insurance agency E&O coverage can be critical for financially protecting organizations from accusations of providing improper services or advice to clients. For example, if you assess a customer’s risk levels and recommend a certain type of level of coverage, you may face legal action should your guidance prove to have been incorrect or insufficient. Fortunately, your E&O insurance may render aid to limit out-of-pocket losses via settlements or judgments. 

Even if you are eventually absolved of any wrongdoing, an E&O insurance policy may be necessary to help fund your legal defense and financially manage accusations. After all, without appropriate coverage, you could lack the resources needed to hire proper legal representation, leading to struggles as you attempt to clear your name and protect your finances and reputation. 

 

Let U.S. E&O Brokers Help You

Our business is to help you protect your qualified services. We represent over thirty insurance providers, and can sell policies in all 50 states. We can offer coverage for:

• Retail Insurance Agents and Brokers
• Crop Insurance Agents
• Surplus Lines Brokers
• Managing General Agents/Managing General Underwriters
• Program Administrators
• Wholesale Agents
• Third Party Administrators
• Insurance Companies
• Specialty Businesses/ PEO’s
• Reinsurance Brokers/Intermediaries
• Claim Adjusters/Claim Adjusting Firms
• Premium Finance Companies
• Warranty Firms Specified Classes such as notaries, bookkeepers, or other licensed professionals needing coverage
• Trustees, Health Care Enrollers, Real Estate, etc.

We know that you have professional obligations. We’ll make the E&O enrollment process easy, yet comprehensive. After evaluating your business’s unique needs, we compare the policy offerings of our partners to find one that suits you. You'll be able to get back to work knowing you have the right protection. All our clients know they can trust us when they need our help.

Have questions or don't see the application you need? Give one of our agents a call at 800-460-6424 today. And if you want to get service online, fill out one of our quote forms right now.