Errors and omissions (E&O) insurance is a type of professional liability insurance that shields businesses, their employees, and other professionals from claims of negligent or inadequate work.
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.
Financial services, insurance agents, doctors, lawyers, and wedding planners are among the professions that require E&O insurance.
Criminal activity is not covered by E&O insurance. Additionally, it does not cover many other types of damage that are typically covered by various insurance policies.
Costs for E&O insurance will vary according to industry and anticipated risk; most organizations can get inclusion for under $1,000 each year.
