These exposures are assumed to be addressed by the GL policy.

What does e&o policy cover. While exact coverage terms can differ from policy to policy errors and omissions insurance typically covers damages from claims of negligent actions or inadequate work that may affect your company or staff. EO insurance generally covers judgments attorney fees court costs and settlements up to the limits of the policy. What EO Doesnt Cover There is generally no coverage on an EO policy for bodily injury property damage or personal and advertising injury.

You can add it to your general liability insurance or business owners policy. However in situations where professional services coverage is excluded. Public relations event coverage up to 50000 per policy period.

There are a few primary categories of EO claims. Generally these types of policies are used to cover financial losses. Undelivered services If your business leaves work.

EO policies only cover economic losses. EO often covers court costs and any settlements up to the policy limit. Errors and omissions insurance coverage is a necessity for all Canadian businesses.

Property damage or bodily injury-related claims are usually not covered. Read on to understand if this type of insurance is right for your business. According to Investopedia Errors and omissions insurance EO is a type of professional liability insurance that protects companies and their workers or individuals against claims made by clients for inadequate work or negligent actions.

Environmental hazards included to policy limits at no additional premium. Policies cover the personal liability of company directors but also the reimbursement of the insured company in case it has paid the claim of a third party on behalf of its managers in order to protect them. Professional negligence retroactive claims and subcontractor errors.