What is Errors and Omissions Insurance?
Professionals are expected to correctly apply their expertise to the work they do. All professionals, however, are humans and can make mistakes. Errors and omissions insurance helps protect professionals in Massachusetts from potential lawsuits filed over mistakes they make.
Errors and omissions insurance is a form of liability insurance that’s specifically designed for professionals who give advice. If a professional gives a customer or client poor advice, the customer or client might file a claim or lawsuit seeking compensation for any damage, injury, or loss they sustained because of the advice. An errors and omissions policy may help pay legal fees and settlements associated with such a claim or suit.
WHAT PROFESSIONALS IN MASSACHUSETTS IS ERRORS AND OMISSIONS COVERAGE RIGHT FOR?
Massachusetts professionals who primarily give advice may want to get errors and omissions coverage. This can cover a wide array of jobs, responsibilities, and industries.