Professional Liability or Errors & Omissions
What Does Errors & Omissions Cover?
Professional liability, also known as Errors & Omissions (E&O), is intended to provide coverage for specific services and professional guidance industries. This type of coverage helps provide protection should a customer claim they have suffered a loss due to an error or omissions from your service and/or professional guidance. E&O coverage can provide legal defense costs, should you be faced with a civil lawsuit and/or settlement cost.
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When Businesses Need an E&O Policy
If one or more of the following could happen to your business you may need an E&O policy - A customer makes a claim that you’ve violated a contract, didn’t perform correct scope of work, gave neglectful advice or made a mistake that caused loss of income for your client.
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Professional liability is an essential coverage for many businesses. Below are some top industries that typcially carry this coverage:
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Salons / Barber Shops
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Spas / Massage therapist
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Financial Advisors
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Veterinary / Pet Grooming
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Medical Practices
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Photographers
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Therapist / Counselor
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Real Estate Agents
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IT / Technology Consultants
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Occupational or Physical Therapist
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Business Coaches
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