Error & Omissions Insurance (Part 2)

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An Errors & Omissions Insurance (E&O) ensures that the clients are protected if ever an error on your part will cause them financial harm. Maintaining this kind of insurance represents your professionalism to the clients, and will even help you to obtain work in the future.

This kind of insurance also provides financial protection to meet the cost of defending any claims that is brought against you. It will also cover any damages that may become payable and held against you. Some examples are faulty legal advice, IT security failure, or a simple error in tax schedules. You can buy professional E&O insurance as an independent contractor or consultant operating as a limited company.