Insurance that covers claims arising from professional services, advice, or expertise you provide. It protects against allegations of negligence, errors, or omissions that cause financial harm to a client. Also called errors and omissions (E&O) insurance in many industries.
Related Terms
Commercial General Liability
Insurance that protects businesses against claims of bodily injury, property damage, and personal or advertising injury caused by business operations, products, or events on business premises. CGL is one of the most fundamental coverages for any business.
Directors and Officers Insurance
Liability insurance that protects the personal assets of corporate directors and officers if they are sued for alleged wrongful acts in managing the company. D&O insurance covers legal fees, settlements, and judgments arising from claims of mismanagement, breach of duty, or regulatory violations.
Errors and Omissions Insurance
Professional liability coverage that protects businesses and individuals against claims of negligence, mistakes, or failure to deliver professional services as promised. Also known as E&O insurance, it is essential for consultants, accountants, real estate agents, and other service professionals.