Errors and omissions (E&O) insurance, also known as professional liability insurance, helps a business mitigate its risk of significant financial loss resulting from a lawsuit due to a professional’s negligent act, error or omission. Almost every business can benefit from having this type of coverage. Contact Atlantic International Company of GA today to learn more about your business’s E&O insurance needs and options. 

What Is E&O Insurance? 
E&O insurance is a commercial insurance policy that protects professionals and their businesses from legal claims arising from errors, mistakes or negligence in their work. This insurance coverage is typically purchased by lawyers, accountants, architects, engineers, doctors and other professionals who provide advice, consultation or other services to their clients. 

What E&O Insurance Covers? 
E&O insurance provides financial coverage for legal costs, damages and settlements related to professional negligence claims, errors or omissions. These claims can include errors in judgment, incorrect or incomplete advice, misinterpretation of data or documents, or failure to deliver services as promised. The coverage provided by an E&O policy typically includes the following: 

• Legal defense costs—E&O insurance helps cover the legal costs of defending a claim against the insured professional or business, including attorney’s fees, court costs and other related expenses.
• Settlements and judgments—If a claim is valid, E&O insurance may help cover the costs of any settlements or judgments awarded to the claimant.
• Damages—E&O insurance may help cover damages resulting from a professional’s negligence or errors, including compensatory, economic and punitive damages.
• Regulatory fines and penalties—E&O Insurance may also cover fines or penalties imposed by regulatory bodies. 

Every policy is different, so talk to Atlantic International Company of GA to find out what may be covered under an E&O policy for your business. 

Why Does Your Business Need E&O Insurance? 
E&O insurance is essential for professionals who provide advice or services to clients, such as lawyers, doctors, consultants and financial advisors, as they may face legal claims arising from errors or omissions in their work. Without E&O insurance, these professionals would have to pay for any damages or legal fees out of their own pockets, which can be financially devastating. 

Having E&O insurance can provide peace of mind and help protect your business and reputation. It can also be a requirement for some contracts or to obtain specific professional licenses. In summary, E&O insurance is essential for professionals who want to protect themselves against potential legal claims related to errors or omissions in their work. 

How to Get E&O Insurance 
Atlantic International Company of GA is here to help businesses of all sizes get commercial insurance solutions that make sense. Reach out to our team today to discuss your liability insurance needs.  .