Why is Errors and Omissions Insurance Important?
Errors and Omissions Insurance (E&O) is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.
Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract.
This kind of liability insurance is generally required for professional advice-giving or service-providing businesses. The vast majority of errors and omission policies are written with claims-made coverage triggers.