Errors & Omissions Insurance

We at Schaefer are going to get to know you and your business – how you operate, your day to day, who your customers are, and more. Using our knowledge and specialization in this risk, we’ll place an Errors and Omissions program that’s right for you and help mitigate potential risks.

Errors and Omissions (E&O) Insurance protects your company from claims made against you because of inadequacies or errors in your services provided to others. Without E&O, your company could be liable for millions in damages. With E&O insurance, your company could be covered for those damages as well as the legal costs.

Errors and Omissions Insurance Typically Covers:

Alleged/Actual Negligence

Perhaps your employee performed the agreed upon services correctly. To their knowledge, the transaction with your customer went smoothly. If that customer feels differently, they can still file a claim based on alleged incidences. Whether or not there were any errors. E&O Insurance will extend towards the claim.

Defense Costs

The price of legal support defending you in a claim can be astronomical, even you aren’t found liable after all. E&O Insurance will help relieve you of those costs.

Temporary Staff and Independent Contractors

In addition to your employees, E&O Insurance will also apply to any temporary staff or independent contractors, as long as they’re providing services on behalf of your business.

Historical Claims

E&O Insurance can extend retroactively. Policies will have a retroactive date typically matching the same date you started. Even if a claim arises from work done from prior to the policy period, your current policy would pick it up.

Copyright Infringement

Although your efforts in obliging to intellectual property rights and laws might be thorough, this still room for oversight. In case you find yourself caught up in a suit, E&O Insurance will be standing behind you.