ERRORS & OMISSIONS (E & O) INSURANCE

For lawsuits and damages caused by:

• Mistakes you are accused of making regarding advice you gave or service you performed (errors)
• Things you overlooked or failed to do that you should have done (omissions)

We provide Errors & Omissions insurance for all professions including, but not limited to, the following fields:

• Finance and Insurance including agents, claims adjusters, accountants & bookkeepers, financial planners, tax preparers
• Real Estate including agents, property managers, title search, home staging
• Information Technology including web developers, programmers & coders, network designers, IT consultants
• Beauty Shops/Salons/Spas including cosmetologists, barbers, aestheticians, massage therapists

Your commercial general liability policy covers you for bodily injuries and property damage caused to others. But what about damages that are not so direct—like that software you recommended to a client which turns out to have major security flaws?

WHO NEEDS E & O INSURANCE?

E & O, sometimes called Professional Liability, is no longer just for lawyers and doctors. Information Technology professionals, Human Resources consultants, event planners, interior designers, and the list goes on—all these professions give advice and perform services that can result in a claim, justified or not, from an unhappy customer.

EXAMPLES OF ERRORS COVERED BY AN E & O POLICY:

• An insurance agent sends a check to the wrong insurance company, causing the client’s policy to cancel. The client suffers a loss with no policy in force.
• An HVAC contractor designs a greenhouse heating system for a client. The system turns out to be inadequate and although the client’s strawberry plants survive, they fail to produce a crop.

EXAMPLES OF OMISSIONS COVERED BY AN E & O POLICY:

• A real estate agent fails to disclose to a home buyer that the house next door is owned by a band that practices in the backyard every night.
• A computer software consultant does not set up a satisfactory backup system for a client who then loses six months of sales and accounting records.

People are going to make mistakes. We also know that hindsight is 20/20, and sometimes what you failed to do or advise doesn’t become apparent until a problem rears its ugly head. Unfortunately, it doesn’t matter whether a lawsuit seems fair to you. Just defending a lawsuit can bankrupt many businesses.

We have excellent E & O programs for most professions. If you are not sure if you need this coverage, speak to one of our agents. We’ll be happy to go over your situation with you.

Ask about our combo General Liability/E & O policies. We have all types of Bonds too!