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rrors and Omissions (E&O) Insurance, also known as Professional Liability Insurance, is a specialized coverage designed to protect businesses and professionals from financial losses arising from claims of negligence or inadequate work. This insurance is particularly relevant for individuals or companies that provide professional services or advice, such as consultants, accountants, and real estate agents.
E&O Insurance covers legal expenses, settlements, and judgments that may result from claims alleging errors, omissions, or negligence in the delivery of professional services. It is crucial for mitigating the financial risks associated with professional liability claims, ensuring that professionals can continue their work without the fear of substantial financial setbacks.
By securing Errors and Omissions Insurance, businesses and professionals can demonstrate their commitment to quality and accountability. This coverage provides a safety net against the uncertainties of professional service delivery, allowing professionals to focus on their work with confidence and peace of mind.