Errors and Omissions (E&O)

What is Errors and Omissions Insurance?

Errors and Omissions Insurance aka E&O Insurance or professional liability insurance is coverage that protects companies, their employees, or professional individuals against lawsuit claims for erroneous work or negligent actions.

What costs does it cover?

E&O insurance can cover such costs as attorney fees, court costs, legal defense, as well as settlements and judgments. The exact coverage benefits received by the insured company or individual can vary significantly depending on the policy and the insurance company that issues the policy.

How much does E&O Insurance cost?

The cost of an errors & omissions insurance policy varies based on several factors such as:

• Size of the business
• Where the business is located
• Type of industry
• Revenue amount and number of contracts
• Amount and type of employee training
• Quality control procedures implemented
• Claims history

What types of “risks” does E&O insurance cover?

Although each policy can vary, errors and omissions insurance can protect you from claims of

• Negligence
• Mistakes and oversights
• Undelivered or inadequate services
• Missed deadlines or late work
• Inaccurate advice
• Misrepresentation
• Breach of contract
• Copyright infringement
• Personal Injury (libel & slander)

 Your business needs are unique, so it is important to discuss the coverage you need with an insurance advisor to ensure you have the right coverage to meet those needs.

Contact Aspen Insurance Agency in Denver, Colorado today to request a quote and find out more information. We offer policies in the following states: Arizona, California, Colorado, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.