E&O / Professional liability insurance
Errors and omissions insurance (E&O) is a tech expert's best defense against accusations of mistakes or oversights.
Technology errors and omissions insurance (tech E&O) provides coverage when you’re accused of negligence, mistakes, or oversights. It also covers data breaches that affect your business or a client’s operations.
With the gig economy in full swing, working as an independent contractor can be an attractive option for IT professionals. But the rewards of being your own boss also come with risks. That’s why you should consider errors and omissions insurance for independent contractors.
Technology professional liability insurance provides coverage when you’re accused of negligence, mistakes, or oversights. It also covers data breaches that affect your business or a client’s operations.
Also known as errors and omissions insurance, professional liability insurance protects your company from client lawsuits over missed deadlines, mistakes, or negligence – regardless of whether you’re at fault.
If your business offers expert advice or provides professional services, you should strongly consider professional liability insurance to protect your company from costly lawsuits. Here’s why you may need this coverage, when it’s required, and how it can safeguard your business.
Before purchasing errors and omissions insurance (E&O), consider factors such as premium pricing, insurance company ratings, and policy limits.
The average premium for errors and omissions insurance (E&O, also called professional liability insurance) is about $60 per month. Your exact cost will depend on several factors, including your industry and policy limits.
The average premium cost for professional liability insurance (also called errors and omissions insurance) is about $60 per month. Your industry and the scope of your services affect the exact cost of this policy.
Both professional liability insurance and errors and omissions insurance offer financial protection from client lawsuits over unsatisfactory work. They are essentially the same types of coverage for mistakes in professional services.
Professional liability insurance provides financial protection against legal disputes over professional mistakes. Learn more about coverage, costs, and other considerations.
An errors and omissions disclaimer can limit a tech professional's liability in certain situations, which can help you manage the risks of working with clients. But while some disclaimers really do reduce risk, others won’t hold up in court.
A rider is an insurance modification that adds extra protection to a policy and enables businesses to customize it to their specific needs.
Errors and omissions insurance and general liability insurance are both types of liability insurance, but they protect your business in different ways. Let’s take a look at why so many IT professionals buy both.