What is E&O Coverage?
E&O insurance is a form of professional liability insurance that is designed to protect employees and employers against clients claims of negligence or inadequate work. This can refer to mistakes, negligence, or discrepancies in a business’s accounting records, which can be seen as fraud, leading to legal action. This policy usually covers legal costs and the settlement, though only to the limit of the policy. E&O covers:
Claims and Damages, Defense Costs, Employees, Temporary Staff, and Independent Contractors Negligence.