E&O insurance… also commonly referred to as Errors & Omissions Insurance, Malpractice Insurance and Professional Liability Insurance. Regardless of what you like to call it, this is a crucial coverage that no professional should be without. Professionals such as attorneys, accountants, and doctors commonly purchase this necessary coverage but, what about other professions?
What professions are able to obtain this type of coverage and is it really necessary? Yes, this is a necessary coverage. This policy will take over where your regular business owners policy leaves off. If you are in any profession where people look to you for advice or for a specific service, you need this coverage. Coverage is readily available but often overlooked for the following professions:
If you provide professional services, you have errors and omissions exposure. See a complete list of professions that require this type of insurance.
Mortgage Brokers/Bankers
Mortgage brokers assist borrowers in locating the home mortgage with the most favorable terms. Mortgage brokers also assist lenders in making a credit decision by collecting all the necessary documentation from the borrowers. In this process there are numerous things that could go wrong. Such as financial loss, resulting from improper processing of loan applications/ documents, misrepresentation of loan terms and clerical errors occuring through out the entire process. Make sure that your mortgage brokerage firm is protected from this exposure.
Download a Mortgage Brokers E&O Application
Title Agents
Title Agents and professionals in the title insurance industry need errors and omissions coverage for the work that they perform. We can provide errors & omissions coverage for any and/or all of the following professional services:
