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Wednesday, February 23, 2011

Top 5 Reasons Professionals need Errors and Omissions Coverage

1. Higher standards of care are created by you, the professional and the expert

2. Increasing Litigation in our society is generating more frivolous lawsuits

3. Average defense cost for an E&O claim is $150,000

4. Allegations of General Negligence in performance of professional services for compensation

5. Employees can make honest errors that can cause economic loss to your company
Paperwork/Administrative errors

- Funds-handling errors

- Failure to document

- Allegations of Libel, Slander, or Defamation

- Errors regarding the content of media communication

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