Errors and omissions (E&O) insurance can offer coverage for your business and employees if another party files a lawsuit alleging that your professional negligence or substandard work resulted in financial loss.  

The team at Rotunno Insurance Agency in Burbank, California, can help you secure coverage that meets your business’s needs. Contact us for more information. 

What Does Errors and Omissions Insurance Cover? 

Also known as professional liability insurance, E&O insurance generally provides coverage for lawsuits that claim financial losses occurred due to your business’s actions or inactions. These lawsuits may allege: 

• Mistakes
• Errors
• Professional negligence
• Oversights
• Omissions
• Inadequate work
• Incorrect advice
• Misrepresentations

E&O insurance may reduce your business’s out-of-pocket costs by providing payments for the legal expenses (e.g., court costs, settlements and judgments) that arise from these allegations. Coverage may apply even if lawsuits are eventually dropped. 

Your Rotunno Insurance Agency agent can provide additional details regarding E&O coverage offerings, limits and exclusions (e.g., illegal actions or intentional wrongdoings). We can help ensure your business is securing the most suitable policy. 

Who Needs Errors and Omissions Insurance? 

For some professionals, E&O insurance may be required by industry standards or by law. Additionally, carrying E&O insurance may help attract clients, as some may require proof of insurance before working with your company. Even if it is not mandated, E&O insurance can provide essential coverage for any business professional who offers certain services or gives advice, such as: 

• Insurance agents
• Real estate agents
• Health care professionals
• Architects
• Financial advisors
• Accountants
• Engineers
• IT consultants

Other professionals may also be eligible for coverage. Reach out to your insurance agent for more details. 

How Much Is Errors and Omissions Insurance? 

The cost of E&O insurance depends on several factors, including the size, age, industry and location of your business. Your claims history and selected policy limits may also influence premium expenses. 

Contact Us 

The knowledgeable professionals at Rotunno Insurance Agency can help you obtain an E&O insurance policy that suits your business’s needs. Contact us today to get started.