How to Obtain E & O Insurance in Georgia

E & O insurance will help protect against some professional liability claims.

Obtaining E & O, or errors and omissions, insurance in the state of Georgia involves contacting a qualified insurance agent or broker and soliciting a quote. E & O insurance is usually part of a professional liability policy and insures against damages caused by errors or omissions on the part of the professional. What this means is if a professional conducts works for a customer and creates an error or omits something important, customers can claim damages in Georgia if they prove the error or omission cost them money. E & O insurance would help settle such claims if they arise.

Things You'll Need

• Business financial statements
• Management biographies

Instructions

1. Contact a professional insurance agent or broker in the state of Georgia. A good place to locate a good agent or broker is with the Gain Insurance website administered by the Insurance and Fire Safety Commissioner of Georgia (see Resources). Use the company search option and select "Risk Purchasing Groups" to find insurance in Georgia specializing in professional liability insurance.

2. Check with all professional organizations in your line of business to find good recommendations of insurance companies providing solid professional liability insurance. Most professional organizations will deal with specific companies that have demonstrated an excellent record of accomplishment in serving business and professionals in their specific industry or profession.

3. Fill out all forms provided by the agency or agencies you contact and provide the company with your business financial statements, along with all bios of your management team. This information is important for the underwriters to accurately assess your risk and to recommend adequate coverage. The agency in turn will provide you with a quote customized to your business or profession.

4. Compare the quote provided by all agencies before making a decision. Pay particular attention to what the E & O quote covers and what types of situations the policy excludes from coverage. Once you settle on the best quote, you will need to sign all paperwork and remit the first premiums for the coverage to start.

References

• Axis Insurance Services: Errors and Omissions Insurance
• JRS Risk Services: Georgia Errors and Omissions Coverage

Resources

• Georgia Insurance and Fire Safety Office: Company Search