Frequently Asked Questions
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Errors and Omissions coverage protects against claims relating to an error or omission in providing professional services – claims that can lead to a lawsuit.
Such an error or omission can be unintentional and can occur during almost any transaction. Securing Errors and Omissions coverage protects professionals from the legal fees associated with the kinds of errors, mistakes or omissions that can happen at any time.
Errors and Omissions coverage is also known as the following:
- E&O Plan
- E&O Coverage
- Errors and Omissions
- Professional Liability Coverage
An errors and omissions suit can be brought against any professional because of an error, omission or mistake. Errors and Omissions coverage can provide protection from the high costs of defending yourself legally. Professional diligence is not sufficient protection against such a lawsuit; it is not uncommon to spend thousands of dollars on defense costs for a matter that ultimately gets dismissed.
Errors and Omissions coverage will cover you and any staff member working on your behalf. The coverage applies to insurance-related activities performed by you personally, and those activities you undertake in your business name. It will NOT cover other individuals writing applications under your business name. Other individuals writing applications under your business name will need to obtain separate coverage for Errors and Omissions.
We receive most of our new clients by word-of-mouth referrals, and search engine queries – which lowers their advertising costs. This, along with their internet-based application process, reduces administrative costs and overhead expenses. These measures allow Surety Solutions to pass the savings on to you.
The initial quote you receive is your official quote and won’t change after processing. Because we decline “high-risk” business, we’re able to provide low, consistent rates for low-risk customers.
You will receive a Proof of Insurance certificate as soon as your application is approved. The application process varies based on individual policies.
Surety Solutions administers and manages our Errors and Omissions plans. Surety Solutions is an affiliate of E&O for Agents and is a leader in the bonding and insurance fields. More information about Surety Solutions is available at their website, surety1.com.
Just click on the “Apply Now” button anywhere on our website to begin our easy application process. It should only take you about 5 minutes to complete the online forms, and our staff will call or email you with any questions they may have. Our goal is to provide same-day approval and coverage for most of our clients.