Errors and omissions (E&O) insurance is a type of professional liability insurance that protects businesses, their employees, and other professionals against claims of inadequate work or negligent actions.
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By JAKE FRANKENFIELD Updated April 26, 2023 Reviewed by DAVID KINDNESS Fact checked by
KIRSTEN ROHRS SCHMITT
A type of professional liability insurance is errors and omissions insurance.
Companies and professionals are shielded from client claims of subpar work or carelessness by E&O insurance.
Any individual who offers a support requires E&O protection including monetary administrations, protection specialists, specialists, legal counselors, and wedding organizers.
Criminal activity is not covered by E&O insurance. It additionally doesn’t cover numerous different types of harm that are generally covered by various types of protection.
Costs for E&O insurance will vary according to industry and anticipated risk;
The majority of businesses can get insurance for less than $1,000 per year.
