Errors & Omissions
Errors and omissions insurance (E&O) is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.
The clear advantage
CLEAR Insurance provides a single point of contact for clear, understandable and unbiased recommendations for all your insurance needs. Whether in the area of commercial coverages for a business or in personal coverage, the CLEAR Insurance team is here to help you protect what matters most.
What is Errors & Omissions Insurance (E&O)?
Errors and omissions insurance is a form of liability insurance. It protects companies against the full costs of a claim made by a client against a professional who provides advice or a service such as a consultant, financial advisor, insurance agent, or lawyer.
Who is E&O insurance for?
Professionals working in financial industries such as insurance, investments, real estate, and accounting will benefit from E&O insurance to cover them in the event of a mistake or omission made on behalf of a client, which can be costly. Many regulatory bodies mandate employees in these professions to obtain E&O coverage through their employer or independently.
- Insurance brokers
- Insurance dealers
- Insurance regulators
- Realtors
- Registered investment advisors
- Banks
- Credit Unions
- Financial planners
- Nonprofits
- Maintenance companies
- Contractors
- Engineering firms
- Architects
- Lawyers
- And any other professional who provides a service
*Doctors, dentists, and other medical professionals also take out E&O insurance called malpractice insurance.
What does E&O insurance not cover?
There are several types of claims that aren’t covered by errors and omissions insurance, including:
- Customer injury and property damage. General Liability insurance typically applies if a customer becomes injured or you damage their property in the course of your work.
- Incidents involving your business vehicles. Commercial auto insurance covers liability claims that involve your work vehicles.
- Damage to your business property. A business owners policy usually protects against losses related to your commercial property and business assets.
- Employee injury or illness. Workers' compensation insurance covers your employees if they become injured or ill while at work.
Above all, we are independent from any insurance company and we work for you, in getting the best products, at the best price and service you will come to expect and can’t do without.
