Seraph Risk Advisors
Northern UT
If your business gives professional advice or services for a fee, a client can claim your work caused financial harm, even when the mistake was honest. Errors and omissions insurance, also called E&O or professional liability insurance, helps cover the cost of defending and resolving those claims nationwide.
E&O policies typically respond to claims of professional negligence, mistakes or oversights in your work, missed deadlines, and failure to deliver services as promised. Coverage generally pays legal defense costs and settlements, which can run into six figures even when a claim is unfounded.
Consultants, accountants, financial advisors, real estate agents, insurance agents, and technology professionals all rely on this coverage. Some states even require it for specific professions. If clients depend on your advice or expertise, E&O is worth serious consideration.
These two policies cover different risks. E&O responds to financial harm from professional mistakes, while general liability covers bodily injury or property damage, such as a client slipping in your office. Most service businesses need both.
E&O policies are almost always written on a claims-made basis, meaning your policy must be active when a claim is filed, subject to its retroactive date. Tail coverage can protect you from claims tied to earlier work if you close or switch carriers.
Yes. We help professionals across the country secure E&O coverage suited to their industry and risk.
In some states, certain professions such as real estate and insurance are required to carry it, though requirements vary.
Most service-based businesses need both, since each covers a different type of claim.
Tail coverage can extend protection for claims tied to work performed before you closed or switched policies.
Contact us to discuss E&O coverage for your business, wherever you are located.
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