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Home » Overview – Errors and Omissions Insurance
September 16, 2022

Overview – Errors and Omissions Insurance

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Overview – Errors and Omissions Insurance


One type of Liability policy is Errors and Omissions insurance, which is a type of professional liability insurance, and the terms are often used interchangeably. .  It is insurance that provides coverage for negligent actions and inadequate work claims, which are excluded from a General Liability insurance policy.

Lawsuits of this nature are very costly, and Errors and Omissions and Professional Liability insurance provide coverage for court costs, legal expenses, judgments and settlements, and expenses and damages.

Some of the potential claim examples of Errors and Omissions are:

–          Failure to provide the agreed-upon service or failure to meet the contract deadline

–          Breach of contract

–          Failure to meet professional standards of care

–          Errors or oversights in your work

–          Professional negligence

Errors and Omissions will not cover bodily injury and property damage claims, because General Liability covers this exposure.  Data breaches are also not covered by Errors and Omissions, as this is a coverage that Cyber Liability covers. Employment Practices claims, such as harassment or discrimination, and employee injury or illness are also excluded from coverage.  Illegal acts and deliberate wrongdoing will also not be covered.

Who Needs Errors and Omissions or Professional Liability insurance?

Errors and Omissions insurance policies are needed by those who are in the business of providing services or advice; such as consultants, lawyers, insurance agents, financial advisors, wedding planners, printers, engineering companies, beauty salons and barbershops, teachers, marketing firms, etc.  For Medical professionals, the coverage is called Malpractice insurance. Technology Errors and Omissions is specific to those that work in the technology field such as IT consultants, internet service providers, component manufacturers, consulting, software, and website developers.  Some regulatory bodies require that this coverage is obtained and kept in force.

At Fixated Financial & Insurance Solutions, we have numerous Professional Liability and Errors and Omissions carriers, including Tech and Medical E&O to protect your business.  Coverage limits can be tailored to your business, and we can provide various options for you to review and decide upon. If you would like to discuss Errors and Omissions insurance, please contact laura@fixatedinsurance or veronica@fixatedinsurance today for an application.  We would love to discuss your options with you.


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