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Get Your Errors & Omissions Insurance Quote Today!

Errors & Omissions Insurance

We all make mistakes, ensure you're protected when you do!

  • Protect yourself from clients holding you responsible for a service or advice that they feel was not adequately performed
  • Have peace of mind knowing that judgments, settlements, and defence costs are covered even if allegations are groundless
  • Know you’re covered if you or an employee makes a mistake

Complete the form or call 1-800-399-5170 to speak with a licensed broker about Errors & Omissions Insurance today.

Errors & Omissions Insurance Coverage

Errors and Omissions insurance, also known as E&O insurance, is specialized liability coverage required by a variety of companies and individuals providing professional services, such as accountants, engineers, marketing professionals, consultants, and IT services, to name a few.  Despite the best intentions of those in these fields, an error or omission in the performance of their services could cause financial losses to their customers. Liability arising from a claim resulting from a professional service are excluded under the standard Commercial General Liability insurance policy. The legal expenses to defend against the alleged failure to provide adequate professional services can be as significant as the actual claim.  Coverage for legal costs for defending these suits is available under an Errors and Omissions policy.  Tri-County Insurance represents several specialized insurance companies that have comprehensive Errors and Omissions Liability insurance coverage for various professional service providers.

Professional Liability insurance provides protection for people who give professional advice, make educated recommendations, design solutions, or represent or advocate for the needs of others. People who may benefit from this type of coverage include financial planners, consultants, and designers.

This is an important coverage for anyone who deals with clients who may claim that something done on their behalf was done incorrectly and that this error has caused them a financial loss.

Claims Made Information

Most E&O policies are written on a “Claims-Made” basis. This means that any claim must be made and/or reported within the policy period in which it occurred. These policies have retroactive dates – a date previous to the policy’s effective date where the alleged claim can be considered. The retroactive date is important as claims that arise out of an act prior to this retroactive date will not be covered by the policy.

Defense Costs Coverage

Some E&O policies also include defense expenses within the limit of liability. This, in essence, limits the amount of insurance that may actually be available to pay a claim.  Some policies also exclude punitive damages.  It is important to make sure the coverage fits your exposure because the wording on each policy can vary. For more information on this coverage, contact our Tri-County Insurance commercial brokers. We are here to help.

Mitigation Tips

Some steps you can take to mitigate an errors and omissions loss and to help control your insurance costs are:  One, always have a written contract that explains what will be done, what will not be done and the fees. Two, communicate with your customers throughout the job and manage expectations. Three, have a quality control procedure in place and check the results.

For more information or to get a quote, contact our insurance professionals by phone or online. We are here to help.

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Have a Question?

Ask us anything about Errors & Omissions Insurance! Call 1 (800) 399-5170 to speak with a licensed broker and get the correct answers today.

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“We were very hesitant to change to another brokerage, then we started dealing with Tri-County Insurance. We have had our insurance with Tri-County Insurance for over 8 years now. Since the day they took over all of our Commercial insurance needs and our personal insurance, we have been very content with their work. We are very happy for the way we have been treated and would like to thank the brokers at Tri-County Insurance for all of their help with our insurance and we do not regret changing to Tri-County Insurance.”

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At Tri-County Insurance we represent dozens of Canada’s best insurance companies. All provide competitive prices, excellent service and outstanding claims service. We will shop at all of these companies to get you the best insurance for your individual needs.

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