For Long Beach Businesses Errors and Omissions (E&O) Insurance
Errors and Omissions Insurance is a specialized professional liability insurance designed to help certain professionals from claims of negligence or inadequate work. This coverage is a lot more specialized than a general liability policy which normally covers more direct damages. E&O covers specific and detailed actions made by the policyholder which may result in financial loss for the party they are doing work for. Such actions could be as simple as putting the wrong date on an official contract, or accidentally omitting important information. Professional occupations that require E&O Insurance:
- Lawyers
- Medical professionals
- Insurance Agents
- Accountants
- Engineers
- Real Estate Brokers
- Software Developers
- Building Inspectors
- General Contractors
- Business Consultants
- Land Surveyors
- Quality Control Specialists
Most E&O policies are specific to the classification of work. For example with medical professionals coverage is referred to as medical malpractice insurance. As a rule, any job that requires any special knowledge or certification should have E&O coverage to defend against claims for negligence or incompetence.
