What Is Errors and Omissions Insurance?
Is e & o insurance a term new to you? Then you have landed at the right place. Read on to know more about the e & o insurance and other matters related to it. What Is Errors and Omissions Insurance? Errors and omissions insurance is also known as E&O insurance and professional liability insurance . This insurance is meant to protect you from lawsuits claiming you made a mistake in your professional services. This insurance also helps you cover your court costs or settlements, which can be very expensive for your business to pay on its own. What Does E&O Insurance Cover? Errors and omissions insurance can protect your business from claims of : Negligence Errors in services given Omissions Misrepresentation Violation of good faith and fair dealing Inaccurate advice If someone sues your business claiming that you made a mistake in the professional services you’ve provided, this insurance can help cover your: Attorney fees Court costs such as reserving a courtroom...