Even with proper policies, procedures and training in place, professional mistakes and oversights can still occur. E&O insurance, also known as professional liability insurance, may cover claims regarding professional negligence, errors, omissions, misrepresentations or inaccurate advice. It may help pay for the resulting expenses, including:
Court costs
Attorney fees
Settlements
Judgments
Having E&O insurance can help reduce out-of-pocket costs and supplement your other liability policies. Make sure to speak with your agent to discuss specific coverages, limits and exclusions