Errors & Omissions Claims-Made Policy

Errors & Omissions Claims-Made Policy

Errors & omissions insurance is a form of professional liability (also known as professional indemnity or malpractice insurance) that protects specialized professionals who may face financial or legal liability as a result of their services or a failure to meet client expectations. This can include healthcare workers, real estate agents, photographers, and more. E&O can be written as a claims-made or occurrence policy, and the two provide different kinds of protection and flexibility. This page focuses on claims-made policies. Visit our E&O occurrence page or our main errors & omissions insurance page to learn more about the differences.

How does a claims-made policy work?

A claims-made E&O plan provides coverage so long as a claim is made while the policy is active, regardless of when the claim event occurred (with some exceptions). This can benefit professionals or businesses that find themselves in situations where there may be a significant delay between a claim event and the actual claim. Outside of retroactive application, another advantage of a claims-made E&O policy is that it can be more affordable than an occurrence policy since coverage ends when the plan expires. Contrastingly, an occurrence policy provides coverage so long as the claim event occurred during the term of the insurance plan. The claim itself can be filed far past the date of the event. If you’d like a free quote for errors & omissions coverage, give us a call or complete the LaunchPad request form. We’ll connect you to a qualified insurance provider that can help determine the type of plan that’s right for you and find you an affordable rate.