Things can and do go wrong in business even with the best talent and best practices in place. One mistake – or perceived mistake – in providing professional services can not only cost you a client but also result in significant litigation fees, a potential settlement, and reputational damage. Errors & Omissions (E&O) or Professional Liability insurance will protect you in the event you are sued for economic hardship as result of the services you provide. Even if the suit is baseless, an E&O policy will step in and provide you with defense coverage for legal fees – which can easily add up, especially in a he-said, she-said situation.
At IPRO-Agency Insurance Services, we specialize in E&O insurance and will tailor a policy that fits your firm and the industry you serve. We partner with several leading insurers specializing in proving professional firms with comprehensive coverage and enhancements that address our clients’ services.
An E&O policy shields you from third-party lawsuits alleging you provided negligent professional services, failed to uphold contractual promises (for example, missed critical deadlines), provided incomplete or unacceptable work, or made mistakes or omissions. The policy will pay your legal expenses, regardless of whether the claim or suit has any merit as well as any settlement or judgment up to the policy limit for a covered loss. Be aware: A General Liability policy does not step in disputes involving professional liability claims.
IPRO-Agency provides E&O insurance to a broad spectrum of professions, including but not limited to: