FAQ’s

What is Errors & Omissions Insurance?

Errors & Omissions, or E & O, is a type of Professional Liability insurance that insures a person or entity against claims made by third parties alleging negligence, errors or mistakes in the professional services that they offer.

Just about anyone who claims to be an expert in any field and is compensated for their expertise, can be held liable in the event that things don’t turn out as they should. Errors and Omissions Insurance is there to help with the financial burden a lawsuit or demand for damages can bring.

Why do I need Errors and Omissions Insurance?

Accidents happen. This is why you have auto and medical insurance. Your business is your livelihood and should be protected as well. Even if it turns out that you have done nothing wrong, you could still be faced with thousands of dollars in defense costs. E & O insurance can help minimize the financial burden you may face should you have to defend yourself.

If you are providing travel services, this coverage is recommended. In fact, many companies, vendors or customers may require you to carry E&O Insurance before doing business with them.

Anyone can allege virtually anything and file a suit against you. The issue may not even have anything to do with you and you. If you were even remotely involved in the disputed work, you are likely to face a legal suit. Even if it turns out you have done nothing wrong, you could still be faced with thousands of dollars in defense costs. Errors and Omissions Insurance can relieve you of these financial burdens.

It is important to note that having E&O Insurance doesn’t make you more likely to be sued. It simply makes you more prepared if a suit is brought against you.

How Are My Rates Determined?

The policy premium is based on a number of factors which may include:
  • The nature of the travel services provided
  • Years of experience
  • Internal quality controls
  • Professional certification
  • Annual gross receipts
  • Claims history

Who is the coverage issued through?

The program is underwritten by Liberty Mutual Insurance Company, a member of the Liberty Mutual Group. In business for over 90 years, Boston-based Liberty Mutual is one of the largest multi-line Property and Casualty Insurers in North America . Liberty Mutual is rated “A” ( Excellent) by A.M. Best company and rated “A” ( Strong) by Standard and Poor’s. Liberty Mutual and its affiliates have global presence with offices in 20 countries around the world.

Who will be covered under my policy?

We provide a broad definition of Insured to include partners, officers, directors, employees and Independent Contractors.

Before You Apply

Please have the following information available when you apply for a quote:
  • Annual Gross Receipts
  • If you have coverage that will be expiring
    • Copy of your existing declarations page
    • Any applicable retroactive or prior acts date
    • A review of your claims history for the past 5 years
  • Names and addresses of any additional insureds or entities that require certificates of insurance