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Errors & Omissions (E&O) Liability Insurance for Your Business

With so much going on in the day-to-day operation of most businesses, mistakes and oversights are bound to happen. Without the proper protection, however, an error can be quite costly, even financially devastating. That’s where Errors & Omissions (E&O) insurance, also known as Professional Liability insurance, steps in. It’s the “we have your back” coverage when an error or negligence occurs providing clients with a professional service that allegedly causes financial damage. Even if the claim is without merit, just defending a “he-said, “she-said” type of claim can be costly.

Our professional staff at ISU-The Olson Duncan Agency can provide you with the back-up protection you require in the event you are hit with a professional liability claim.

What Is E&O Insurance?

E&O insurance protects companies and their employees against claims made by clients for inadequate work or negligent actions. The policy will cover your defense costs and any resulting settlements and judgments against you or your company, up to its coverage limits. Not all policies are the same, and it’s important to work with a professional who has the expertise and markets to design a policy that fits your profession and exposures. For example, if you are in the construction business and are responsible for the design/build of a project, your E&O policy will be structured differently from that of a law firm. You can rely on our staff’s experience and access to leading markets to provide you with an E&O policy that responds to your risk profile.

Who Needs E&O Insurance?

If you as an individual or your firm provide professional services to clients for a fee, you need to have E&O coverage as part of your insurance portfolio. This not only includes professionals such as accountants, attorneys, consultants, and real estate agents but also freight forwarders and logistic service providers, contractors, manufacturers and others. We will review your operation and the services you provide to tailor a policy to meet your needs.

Our Value

At ISU-The Olson Duncan Agency, we look to provide clients with a total solution, not simply a quote or an insurance contract. Our goal is to provide real value and build a long-term relationship based on trust. This is underscored by the fact that we provide our clients with their risk management and insurance solutions, including property & casualty, employee benefits and personal insurance. To find out more about how we can help you, call us at (310) 373-6441.