Errors and Omissions Insurance
Errors and Omissions, also known as Professional Indemnity Insurance or Professional Liability Insurance, protects professionals like doctors, lawyers, accountants, consultants, etc. against claims of negligence, wrongdoing, misrepresentation, or harmful misconduct during the course of their professional duties.
These professionals make several important decisions during their work based on their judgement and expertise. However, even minor errors or lapses in judgement can cause problems for their clients and lead to damaging lawsuits. That's why Errors and Omissions Insurance is important for them
What does Errors & Omissions Insurance cover?
Errors & Omissions Insurance indemnifies the professional against THIRD PARTY CLAIMS of:
- Bodily Injury, disease, or disability
- Death
- Propery damage
LEGAL COSTS, including:
- Cost of representation
- Charges
- Damages
Why opt for this policy?
Specifically designed for professionals
This policy is designed to protect the legal liability of professionals and service-led business against the all too common risk of getting sued for negligent misconduct
Expansive coverage
Apart from legal costs and damages, this insurance policy can also be extended to cover employee dishonesty and IPR infringement
Coverage for groups of professionals
Hospitals, IT firms, Consultancy firms, etc. can purchase a group policy at a cheaper premium to cover all employed professionals under their wing
Learn about Errors and Omissions Insurance in detail HERE
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