What Is Errors & Omissions Insurance?

Mistakes concept.Your Guide To Understanding E&O Coverage

Do you make claims about your work? Any claim at all, even as broad as a claim to better your community, can become a legal issue if one of your clients sues you because they feel you did not make good on that claim and it caused them financial loss. How do you protect your business so that you are able to make claims about the work you do while protecting your business from the chance incident of someone taking legal action against you?

Errors and omissions (E&O) coverage is the solution to that query. E&O insurance will protect you if an error or omission from you or someone on your team causes financial detriment to one of your clients. Even if you are taken to court in a case where you are not at fault, E&O coverage can help cover the litigation expenses.

Your general liability insurance is constructed in such a way to give you general peace of mind. E&O insurance extends that peace of mind to knowing that even if you make a mistake (because if we are honest, all of us do) it will not capsize your business. Give yourself a cushion against the errors and omissions all humans make by securing E&O coverage.

Your E&O policy should be as unique as your business. Connect with your insurance provider so you can construct a policy that will reflect your business’s specific exposures and risks. The verbiage in your policy will outline the claims made by your business and how they are covered.

If you are looking for an insurance provider to help you understand your exposure as a nonprofit and mitigate those risks with errors and omissions coverage, contact Colorado Nonprofit Insurance Agency. Located in Denver, our team is here to meet all of your Colorado commercial insurance needs.