Professional Errors and Omissions Liability

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Professional Errors and Omissions Liability Errors and omissions insurance, also known as E&O insurance and professional liability insurance, helps protect you from lawsuits claiming you made a mistake in your professional services. This insurance can help cover your court costs or settlements, which can be very costly for your business to pay on its own. A coverage available to pay for liability arising out of the performance of professional or business related duties, with coverage being tailored to the needs of the specific profession. Examples include abstracters, accountants, insurance adjusters, architects, engineers, insurance agents and brokers, lawyers, real estate agents, stockbrokers, doctors, lawyers, and wedding planners. Is should be noted that professional liability and errors and omissions are the same. Errors and omissions insurance is another name for professional liability insurance. So, the same coverage is applied despite the different names. The difference between Errors and Omissiona (E&O) and Directors and Officers (D&O) insurance is; while E&O insurance provides protection for any representative of your business, and the business itself, directors and officers (D&O) insurance is primarily designed to protect the directors and officers of the company. E&O insurance does not cover criminal activity. It also does not cover many other forms of damage that are traditionally covered by different forms of insurance. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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