Professional Liability Insurance (Errors & Omissions)
Professional Liability Insurance, also known as Errors & Omissions (E&O) Insurance, provides essential protection for businesses that deliver professional or personal services. This coverage safeguards your company in the event a client suffers a loss or harm resulting from services or advice you provide, for which you may be held legally responsible. While general business liability insurance addresses bodily injury, property damage, or advertising-related claims, E&O insurance specifically addresses professional service exposures.
Any business that provides services to clients for a fee should consider E&O insurance. At Gatta Insurance, we provide tailored coverage for a wide range of professionals, including:
General Contractors and Artisan Contractors
Architects and Engineers
State Agencies
Real Estate Developers
Property Managers
E&O policies typically cover business owners, employees, and subcontractors performing work on behalf of the business.
E&O policies vary by provider and are customized to reflect the unique risks and exposures inherent in different industries. One critical component is the retroactive date of the policy. Many claims arise from services performed years earlier, only becoming apparent when a court summons arrives. A policy with an earlier retroactive date provides broader protection for such latent claims.
Even when claims are ultimately deemed unwarranted, legal fees, court costs, and other expenses can rapidly deplete a company’s resources. Most E&O policies cover settlements, judgments, attorney fees, and court costs up to the policy limits—ensuring your business can defend itself and remain financially secure.
