Errors & Omissions insurance reimburses a third party for financial damages that party has sustained as a result of actions taken by the Named Insured. When exploring coverage for your sports facility, it is important to be aware of exposures to a potential Errors & Omissions claim as this type of risk is not always clear and obvious. For example, if an athlete loses an athletic scholarship due to an injury sustained at your facility, they could bring a lawsuit against your organization for the financial loss experienced. An Errors & Omissions policy would be needed to respond to this.