E&O insurance is a kind of specialized liability protection against losses not covered by traditional liability insurance. It protects you and your business from claims if a client sues for negligent acts, errors or omissions committed during business activities that result in a financial loss.
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Professional liability insurance (PLI also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil. Xl catlin insurance curiouswhat is e&o insurance Email Address Verifier – Validate and Check at What is E&O insurance? E&O insurance protects professionals who provide recommendations, advice, guidance, or services. Like any small business insurance policy, E&O can be purchased through an insurance company or broker. Depending on your industry, E&O insurance might have a different name.
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Errors and Omissions Insurance (E&O) Definition
E&O insurance generally protects service businesses from errors and/or omissions made by a business owner, employee or contractor working on behalf of the company. Once upon a time, there was a distinction between errors and omissions insurance and professional liability insurance. Life in Italy Errors And Omissions Insurance – E&O: Errors and omissions insurance (E&O) is a type of professional liability insurance that protects companies and their workers or individuals against claims.