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What Is Errors and Omissions Insurance?

What exactly is E&O Coverage?

Whether you’ve heard it called Errors and Omissions insurance or Professional Liability insurance, let’s take a closer look at what it is (and why you need it).

 

We all learned from a young age that no one is perfect. But, while we’re usually quick to overlook our own mistakes, you’ve probably discovered that your clients aren’t as forgiving when you mess up.

Everyone is sure to have an “off day” from time to time, but businesses that perform a service or give advice can’t afford to make a mistake. Especially when those mistakes can lead to a loss for a client or colleague.

Luckily, the insurance industry recognizes a need to cover instances of errors, omissions, and negligence, which means there’s a product available to protect your business.

There are many names for it but whether you call it Professional Liability, Malpractice Insurance, or Errors and Omissions insurance, this is one business insurance policy you shouldn’t neglect.
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5 Professional Insurance Policies You Can't Do Without

5 Professional Insurance Policies You Can’t Do Without

Your professional insurance needs go way beyond property damage.

Protect your clients, your reputation, and your livelihood with these five professional insurance policies.

Most business owners understand the risk fire poses for a restaurant, or the consequences of a hurricane flooding a retail store. But many people don’t stop to think about the intangible risks that threaten professional services businesses like accounting firms, law firms, or marketing agencies.

Risks that property insurance and general liability coverage can’t protect you from.

Insurance works best when it’s custom fit to you. If you’re running a professional services business, you need professional insurance policies that fit.

Businesses that provide a professional service often seem “low-risk,” but just because you’re not working with open flames or heavy machinery doesn’t mean that you’re immune to disaster.

Here are five professional insurance policies that no professional services business should be without.
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10 Business Insurance Myths Debunked!

10 Business Insurance Myths Debunked

There’s a lot of misinformation about business insurance. Allow us to set the record straight.

Learn the truth behind these common business insurance myths so you can set yourself up for success. 

As a small business ourselves, the Harry Levine Insurance agency hates to see local businesses with the wrong insurance policies.

Whether it’s someone with unnecessary policies, too little coverage, or—worse still—no insurance at all, we can usually trace it down to one thing: misinformation.

Too many people have fallen prey to these business insurance myths for us not to address them. So we’ve gathered up the 10 most popular myths people believe about commercial insurance and debunked them, one at a time.

 

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Here's why general liability insurance coverage isn't enough to protect your business.

Why General Liability Insurance Coverage Isn’t Enough

Most business owners hear the phrase “general liability insurance” and assume that they are covered against “general” liabilities.

This assumption could not be further from the truth.

The fact is, as a business owner, your general liability insurance coverage isn’t enough to protect your business from every foreseeable risk.

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