Errors and Omissions Insurance protects companies, their workers, and other professionals against claims of inadequate work or negligent actions which may include, but are not limited to:
- Instances when you cannot provide a service that you have committed to;
- Situations when your recommendations or work do not generate the desired result;
- The possibility that a solution you provide does not turn out to be a viable one.
Error & Omissions insurance is essential. It provides you with the needed funds to secure experts to assist you during negotiations/litigation and/or to pay for legal fees required to defend yourself and your business while satisfying a settlement or judgment.
Error & Omissions insurance protects you against instances of negligence or failure of performance arising from the products or services you offer. Professional negligence includes responsibility for financial losses and bodily injury.
Even if you are a non-profit organization, it is important to be covered with Error & Omissions professional liability insurance.