Errors and Omissions for IT Companies and IT Professionals
Errors and omissions insurance is business liability insurance for business professionals providing consulting and related services. An error or omission, a mistake, which causes financial harm to another, can occur on almost any transaction in any profession. This type of insurance helps to protect a professional, an individual or a company, from bearing the full cost of defense for lawsuits relating to an error or omission in providing covered Professional Services. This is a separate coverage from a standard CGL Commercial General Liability or Property insurance policy.
If you regularly give advice to your clients, handle data belonging to them or their business or are responsible for a client's intellectual property, you will need professional indemnity insurance. Despite feeling confident in the quality of your work, you're still vulnerable to a claim of negligence when professional advice or services fail to meet a client's expectations, something that could result in them suffering financial loss.
Errors and Omissions Insurance may be referred as: E&O (Insurance), Errors (&) Omissions, Professional Liability (Insurance), Malpractice (Insurance)
Eligible IT Risks:
- IT Consultants
- Website Developers
- Computer Hardware Sales/Support
- Network Support Services
- Software Developers
- Data Storage/Retrieval Services
- Computer Training
- Web Hosting Services
- From one person firms to nationals
100% U.S. Receipts!
Coverage Available for risks with US fee revenue.