Professional Liability Insurance (Errors & Omissions)
Professional liability insurance (E&O) is a form of business insurance that is designed to protect against liability resulting from an error or omission (real or alleged) while providing a professional service. A customer could sue you because you provided incorrect advice, or perhaps you didn't do something that you should have, in the course of providing a professional service. A professional liability insurance policy would respond to defend the claim as well as pay for settlements or judgments.
Coverage features can include:
- Protection against claims resulting from wrongful acts
- Worldwide coverage extension
- Extended reporting period
- Damages coverage up to policy limits
- Costs to defend
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