Does Your Company Have The Liability Coverage It Needs?

E&O Insurance Basics

If part of your business consists of giving any type of recommendations or advice, or you sell products to customers, you need liability insurance that goes beyond the coverage that is provided by standard liability protection. A professional liability insurance policy, also known as errors and omissions (E&O) insurance, will help to give your company the protection that it deserves.

Professional liability and E&O insurance used to be considered two separate insurance policies that provided separate coverage. Professionals such as lawyers and doctors needed “professional liability” for the liability threats they faced as part of their occupation. On the other side, “E&O insurance” was meant for semi-professional occupations.

An E&O insurance policy will help to protect you and your company from any lawsuits that are the result of any personal mistakes made by your employees. E&O insurance will provide coverage for intellectual damages, rather than physical damages that are covered by other insurance policies. Any negligence caused by your company that results in a lawsuit due to financial damage to a customer will be covered under your professional liability insurance policy. The coverage will cover the cost to defend your company in court, which could easily bankrupt your company if you do not have the right protection.

Since every company is a little different with exactly the amount of coverage that they need, E&O insurance can be tailored to fit the specific needs of your company.

For help finding the right business insurance policies, contact the insurance professionals at Brown & Brown Insurance in Anaheim, California. As an independent insurance company, we will work closely with you to make sure that you have the protection that you deserve, all at the right price to fit your company budget.