The Basics of E&O Insurance

Most insurance agents have clients whose companies face errors and omissions on a regular basis. E&O insurance is a great way to provide coverage for your clients in order to protect them from the gaps that are present in most general insurance policies. An E&O wholesaler can help you give your clients the coverage that they need.

 

How E&O Insurance Works

 

Covering the exposures of errors and omissions for many companies is necessary if they want to remain protected. E&O insurance can offer coverage for the following situations:

 

–          Judgments

–          Settlements

–          Defense costs

 

Without adequate coverage, many businesses have to face paying for these costs out of pocket, which can be very costly.

 

Who Needs E&O Insurance?

 

Depending on the industry of your client, E&O insurance can be called malpractice insurance or professional liability. There are several types of occupations that benefit greatly from the help of an E&O wholesaler, including:

 

  • Doctors
  • Chiropractors
  • Dentists
  • Engineers
  • Lawyers
  • Architects
  • Accountants

 

Some individuals can also use E&O insurance, but you should consider their levels of exposure before starting them on a new policy.

 

When you really want to serve your clients and provide them with the level of protection that they need, you should work closely with an E&O wholesaler in order to get the best experience, knowledge, and resources possible.