What Is E&O Insurance?

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E&O insurance is a professional liability, errors and omissions coverage. Learn about E&O insurance with help from an insurance professional in this free video clip.

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Video Transcript

Hi, this is David Sumpter, commercial insurance specialist with Wateridge Insurance in San Diego. Today, we're going to talk about E&O insurance. What is E&O insurance? E&O insurance is professional liability, or errors and omissions liability insurance coverage. So, who needs this kind of coverage? Anyone providing a service to their clients. Typically, accountants, attorneys, doctors, insurance specialists like myself. E&O insurance is coverage provided by the insurance carrier for, basically, business mistakes in your day-to-day operations. If someone makes a claim against your E&O insurance, they're claiming that you led them in the wrong direction. So, someone like me, an insurance broker, providing bad advice. Make sure that you check on your E&O insurance policy for a couple of things: Number one, look at the exclusions. Make sure that your policy doesn't exclude what you do. Make sure that you keep that coverage in place with the same carrier, or look at your retroactive date. Now, for more information about that check with your broker. Finally, check to make sure you're with an A-rated carrier. A-rated carriers are more financially stable. And, in this day and age, you can afford to be with an A-rated carrier. I'm David Sumpter, commercial insurance specialist with Wateridge Insurance.


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