Errors & Omissions

Here are three areas of errors & omission, what it protects you from, and why you should have this coverage in place. Errors and omissions insurance protects businesses and individuals from claims and lawsuits arising from failure to perform contracted work. It also covers mistakes made in the course of doing business. Business Errors and Omissions Insurance coverage typically covers all employees of a company, including salaried employees and independent contractors. Professional Errors and Omissions Insurance covers mistakes made by self-employed professionals, such as doctors, lawyers, and insurance agents. Applying for Coverage: When applying for coverage, you may need to supply your underwriter with quality-control documentation, contracts, training manuals, and other paperwork that show how your company does business. Also, be prepared to explain the history of any past claims.