Errors and Omissions Explained

As a business owner, it’s important to have business insurance coverage that will protect your interests. One of the most vital policies any service provider should carry is Errors and Omissions (E&O) insurance.

What exactly is E&O insurance?

E&O insurance is usually called malpractice or professional liability insurance and provides protection when your client feels that you did not follow through on your promises. It’s one of the most important policies that a business owner can have.

What does it cover?

  • Attorney fees
  • Judgments
  • Settlements

Based on your service and type of business you operate, your premiums may vary. When acquiring this type of insurance, make sure you have your contracts and operating procedures on hand for your underwriter to review.

It’s no secret that things happen and there will be times when you cannot make every client happy. Making sure you protect your business from these types of unfortunate situations can make the difference between continuing to thrive and closing your doors.

For more information on business insurance and how you can keep your organization safe, contact Stromsoe Insurance Agency.

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