Errors and omissions (E&O) insurance is a type of liability insurance coverage for individuals who are providing professional services. An error or omission, otherwise a mistake, which causes financial harm to another, can occur on almost any transaction in any profession. This coverage helps protect an agent or agency from bearing the full cost of defense for lawsuits relating to such an error or omission in providing covered professional insurance services, should a client hold them responsible for errors or the failure of their work to perform as promised in their contract.
E&O minimum coverage details:
Limits of Liability per Claim – $1,000,000
Limits of Liability Aggregate – $1,000,000
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