If your business carries commercial crimetheft coverage your business insurance will cover employee fraud and embezzlement.

Does e&o insurance cover embezzlement. Lawsuits even simple or unfounded ones can easily cost between 10000 and 100000 depending on the complexity of the dispute and your clients willingness to settle. EO insurance is not a replacement for general liability insurance which typically covers property damage and bodily injuries. EO insurance will cover these expenses even if the lawsuit is drawn out for several years.

Errors and omissions insurance covers legal expenses if youre sued over the quality of your work. Directors and officers liability Insurance also written directors and officers liability insurance. I would think they would argue that its no an error or mistake that the intentional theft is not an error or mistake.

Get Insurance Quotes From AUs Leading Brands in Mins. Would eo insurance cover embezzlement. Also in certain circumstances the personal assets of the officers etc.

If a dissatisfied client sues your business over a work mistake errors and omissions EO insurance can cover your legal expenses including the cost of a settlement or judgment. An EO policy will not provide coverage for a variety of scenarios such as intentional wrongdoing or harm illegal activities employee injuries or lawsuits and business property damage. There are several different forms of employee dishonesty coverage.

Even a meritless claim will be covered by the policy so organizations do not have to pay costly out of pocket attorney fees and other court costs. Most EO policies cover judgments settlements and defense costs. You would need to examine the exact type of insurance coverage she has.

In this case the policy will reimburse the company for legal costs. EO insurance steps in to protect your business. This insurance can help cover your court costs or settlements which can be very costly for your business to pay on its own.