Errors & Omissions
In today’s increasingly litigious environment, professionals are often held to a higher standard, and subject to allegations for losses arising from their professional actions or inactions.
Professionals require specific professional liability insurance protection
Professional liability insurance (PLI), sometimes referred to as professional indemnity insurance (PII) but is more commonly known as Errors & Omissions (E&O), is a form of business insurance designed to help professional advice, consulting and service providing individuals and companies protect themselves against a negligence claim made by a client in a civil lawsuit for allegedly giving wrong advice, error in service or providing incorrect data/information to clients.
Some examples of professions that often require errors & ommissions insurance:
- Arbitrators and mediators
- Beauty and spa service providers
- Business associations
- Data processors
- Educational institutions
- Executive search firms
- High tech firms
- Management firms
- Non-profit organizations
- Software developers
- Travel agents
If you offer specialized services like consulting, teaching or professional advice to clients, you are automatically held to a higher level of duty and accountability. Talk to one of our professional liability insurance experts as soon as possible and protect your business, and yourself with errors & ommissions insurance. Our innovative insurance products are modular and we can help you design a policy that is geared to your specialty services.