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Errors & Omission Insurance (E&O)

Helping you help your clients.

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Spotlight on: E&O

From small businesses to freelance consultants, no one is safe from the potentially devastating costs of a lawsuit.

Fortunately, errors and omissions (E&O) insurance is designed to help protect you from those risks. E&O insurance is a specialized professional liability policy that can protect individuals who consult or offer professional advice against liability if an error occurs during a professional service.

E&O insurance can help you cover financial losses and legal defense costs incurred from a lawsuit.

The Higginbotham Difference: Consulting with Confidence

At Higginbotham, we set ourselves apart with our consultative approach to insurance services.

From small consulting agencies to individual professionals looking to manage their personal liability better, we take the time to learn you by name and nuance, so we deliver a policy that fits your needs. If you decide E&O is a good fit, we proactively advocate in your best interest, to get you the most competitive prices available.

And our work doesn’t stop there.

After your coverage is placed, the true work begins. Our seasoned team of risk management professionals provide year-round value with our Day Two Services®.

Because while insurance is our something, our customers are our everything.

To learn more about how our values-based approach creates value for you and your business, click here.

Or visit our Insights page to learn more about different insurance coverages.

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Ready to work with a partner who works as hard as you do?

The work needed to design an E&O insurance plan specific to your needs can seem like a tall order, but not with Higginbotham on your team. We can get you the custom coverage you need with our nationwide network of insurance carriers and deep industry experience.

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We are in the business of providing service to, and being a resource for, our clients, so when we find a company that stands out in terms of service, we not only use those services in our firm, but also recommend those resources to clients and friends. Higginbotham stands out in all of those areas.

Ron S.
CPA, Production Support Industry

Who needs errors and omissions coverage?

E&O policies can protect a wide range of professionals offering services to third parties. These include:

Lawyers

Accountants

Insurance Professionals

Software Developers

Financial Advisors

IT Professionals

Consultants

Architects

Other Professionals Who Give Advice

What does errors and omissions insurance cover?

An E&O insurance policy can protect the policyholder against the cost of defending or mitigating allegations of negligent services.

Unlike commercial general liability policies, E&O does not generally cover claims involving bodily injury or property damage. Instead, E&O offers coverage for professionals against financial loss that resulted from any inaccurate advice, negligence, omissions or misrepresentations when providing professional services.

In the aftermath of covered liability claims, an E&O policy can typically help you cover court costs, attorney fees, judgments and settlement costs (up to the coverage limit).

Errors and omissions benefits can vary significantly based on the policy’s wording and the carrier who issued the coverage.

Consequentially, an E&O policy may exclude temporary employees and claims made in certain jurisdictions. This coverage also typically excludes work completed before the policy was originated and any claims stemming from criminal prosecution and some civil allegations.

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Why get professional liability insurance?

Even if you are a very responsible professional who checks and then double-checks all client communications and processes, E&O coverage may still be a good idea for multiple reasons.

E&O coverage may be required.

Some companies, professional organizations and even some clients require you to have E&O coverage before doing business.

Mistakes happen.

Professionals can try to avoid making mistakes by working carefully, establishing consistent procedures, communicating clearly and documenting everything. However, even the best of us can suffer a momentary lapse which can result in a lawsuit.

Clients can sue even when you haven’t made a mistake.

E&O coverage protects professionals from claims of negligent or incomplete services. Those claims do not need to be valid. A client can sue over perceived errors and oversights whether any actual wrongdoing has occurred, and legal costs can be expensive regardless of the case’s outcome.

Peace of mind.

E&O coverage gives peace of mind by helping to protect your business and key employees.

How much does E&O insurance cost?

At Higginbotham, we make sure to understand the unique operation of each business we serve to deliver the right coverage at the right price for your needs.

With that considered, it is difficult to quote a price without first understanding the specifics of your situation. Our custom-tailored E&O policies consider several factors, including, but certainly not limited to your location, budget, operational specifics and risk exposure.

Risk Management Services

At Higginbotham, we take a consultative approach to customer service and risk management.

Whether you have a single policy, a commercial package or many insurance policies covering multiple locations and risks, we take the time to understand your unique needs so we deliver the best coverage at the best price available.

But we don’t stop there.

Our work continues 365 days a year. We have a Day Two Services® team that works in tandem with our risk management specialists to deliver year-round value.

From help with compliance to safety audits and claims advocacy, our Day Two Services® team helps you mitigate risks, avoid costly claims and better position your operations so you can focus on what matters most: growing your business.

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Not sure where to start? Talk to someone who wants to listen.

A great plan starts with a conversation. Let’s talk about what you need.

Talk to an E&O Insurance Specialist
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