Errors And Omissions Insurance 101

Errors And Omissions Insurance 101

Your Guide To Understanding Errors And Omissions Insurance

If you are a business owner, or even just a dedicated employee, you know the feeling of laying awake at night worrying over an uncrossed t or an undotted I that could come back to bite you. You live in an uncertain world, though, so there will always be those worries, right? Wrong. With Errors and Omissions (E&O) Insurance you can rest easy knowing your hard work is protected against unsure times and human error.

What is E&O coverage? Is it protection that insures your company in the event that a service you provided did not yield the result your client anticipated (error) or you failed to provide the service your client expected (omission). You are probably familiar with some types of this coverage, such as malpractice insurance for doctors or professional liability for lawyers and engineers. This protection is not just for a small subset of professions, though. If your business offers a service to others and asks for financial compensation in return, you have exposure to errors and omissions.

In a perfect world, we would never make mistakes and E&O coverage would be unnecessary. Since we live in a human world, however, this protection is here to offer you certainty in an uncertain life. Your E&O policy will be as unique as your business because you will need coverage that protects against your specific exposures. Usually, the basis of your policy will be the claims your business has made, and protecting you if your client feels you did not fulfill those claims.

For errors and omissions insurance and all of your other business insurance needs, do not hesitate to contact CorMarc Insurance Services in Murrieta, CA. Our team of experts is here to come alongside you, analyze your exposure to risk, and create unique policies that will protect you and your business. Call us today.