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The nature of negligence or E&O claims makes them very expensive to defend. Even if the claim has no basis in fact, it must be investigated and the professional who has been sued must be defended. The legal fees alone can be extremely high and if a settlement is obtained or a judgment awarded, financial hardship is likely.
What is Errors & Omissions Insurance?
Errors and Omissions insurance helps to protect your business against a lawsuit that may claim you made a mistake in executing your services. E&O insurance may also be referred to as professional liability insurance, and provides coverage and support beyond general liability plans. At AOR Insurance, we believe Errors & Omissions Insurance is an essential component to any commercial insurance coverage plan.