E&O insurance

What is Errors and Omissions (E&O) insurance?

As a subset of professional liability insurance, errors and omissions (E&O) insurance shields professionals and businesses from lawsuits alleging careless behavior or subpar work that causes a client's money to be lost. It is commonly known as professional liability insurance.

When it comes to claims involving faults, errors, omissions, or carelessness in the services rendered by the insured party, E&O insurance usually pays for legal costs, settlements, and judgments. For professionals like consultants, attorneys, accountants, architects, and real estate brokers who offer their customers services, knowledge, or advice, this kind of insurance is very crucial.

To put it simply, E&O insurance protects professionals and their companies against the financial fallout from claims resulting from purported flaws in their services or errors in their profession.
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