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Vantage Business Support & Insurance Services explains that Errors & Omissions is generally used to refer to coverage for liability arising out of errors or omissions in the performance of professional duties other than in the medical and legal profession. It would apply to services such as engineering, banking, accounting, insurance or real estate.

What is Errors & Omissions Insurance ?

In the litigious world we live in today, many business owners protect themselves with errors and omissions insurance (E&O). This type of insurance may be appropriate for anyone who gives advice, makes educated recommendations, designs solutions or represents the needs of others, such as teachers, consultants, software developers, ad copywriters, Web page designers, placement services, telecommunication carriers or inspectors. 

How does Errors & Omissions Insurance work ?

Although formalizing a contract with your clients can help limit your liability, the big expense in an errors and omissions claim is the legal defense needed to prove liability or innocence. Errors & Omissions policies are designed to cover many of these defense costs and ultimately the final judgment if the business owner does not win the case.

Why Do You Need Errors & Omissions Insurance?

Regardless of what kind of business you own, customers can claim that something you did on their behalf was done incorrectly, and that this errors cost them money or caused them harm in some way.

Please speak with a VANTAGE business professional for a more detailed explanation of products available to assist you in protection planning.