What Is Covered by Errors and Omissions Insurance?

Errors and omissions insurance is an important form of business coverage. Policies of this sort are designed to protect your financial well-being in the case of real or alleged negligence. An E&O wholesaler can help you find the professional liability insurance policy that best fits your needs.

Major Areas Covered by E&O Insurance

When you purchase E&O insurance, you are protected against many common hazards of operating a business. Some of the most common areas covered include copyright infringement, omissions and errors made by independent contractors, legal defense costs, incorrect advice, failure of duty, slander, libel and negligence. This kind of insurance coverage only applies to goods and services. It does not apply to property damage or bodily injury.

How E&O Insurance Can Help You

Many IT professionals benefit from E&O insurance after a website or a database is infiltrated by hackers. This insurance covers both intentional and unintentional virus damage across a wide variety of platforms. It protects against financial losses and lawsuits, even when security breaches are caused by negligence. It is also useful for marketing professionals and consultants who may find themselves in accidental infringement of copyright. Errors and omissions insurance offers vital protection to businesses. You can find out more about this important form of insurance by speaking with an E&O wholesaler today.


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Directors and Officers Policy Covers Leaders in All Types of Industry

When a legal claim is brought against a director of a company, it is said to be for any actual or alleged act, omission or error judged to be a breach of duty in the discharge of his or her duties. This may be translated as financial mismanagement, or it may mean charges of wrongful termination. Claims often run very high. Directors and Officers for private companies helps cover a company’s legal fees when a lawsuit is brought against a director or officer.

Who Can Benefit

Claims of discrimination or sexual harassment may be brought against an officer of any kind of business. Regardless of the validity of the claim, processing it takes time and money. Affordable D&O policies are now available for companies of all sizes. Typically, an operation must have revenue of at least $500K to be eligible. Businesses that may benefit include:

  • Agriculture
  • Auto Sales and Maintenance
  • Business Services
  • Entertainment/Media
  • Hospitality
  • Retail

D&O Provides Peace of Mind

Many directors in private companies have their own capital ties up into the business. Directors and Officers for private companies helps protect assets that otherwise might be lost to the courts. Another advantage to carrying a policy is that it may make the company more attractive to prospective hires. Having D&O in place lets a candidate know the company is interested in protecting its leaders and allowing them the space to do their job.


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What Goes Into Cheap Car Insurance?

If you’re looking for cheap car insurance in Orlando, FL, you may feel a little overwhelmed at all the options available. One of the best things you can do is brush up on your insurance terms before you speak with a representative. Knowing what the standard insurance jargon means will help you make a more informed decision about the coverage that’s right for you.

Available Coverage Options

There are generally four coverage options that fall under car insurance, and you can mix and match them to ensure you get cheap car insurance in Orlando, FL.

  • Collision coverage – Protects you from loss in the event that another vehicle hits yours
  • Liability coverage – Safeguards you from loss in case you cause personal injury or property damage while driving your vehicle
  • Comprehensive coverage – Covers the costs associated with vehicle damage caused by non-collision related incidents, like theft or fire
  • Medical coverage – Takes care of any medical expenses incurred by the driver and occupants of the insured vehicle

Make It Personal

Consider your situation when you purchase car insurance. Many insurance agencies will help you pick and choose the coverage options that are right for you. However, you need to be sure that you have the legal minimum required by the State of Florida. With the right car insurance, you can drive with peace of mind, knowing that you’ve taken the proper steps to protect your financial future.


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What Is Overnight Rental Insurance?

For people who own vacation rental property, overnight rental insurance in Tennessee is as important as having homeowners insurance for a primary residence. This type of policy provides property owners financial protection from a wide range of circumstances and events. It is designed for all types of rental properties including houses, condos, town homes and cabins.


Property Coverage


Overnight rental insurance in Tennessee is structured to provide owners with the right amount of property coverage. This protects them if there is damage caused by the weather, tenants or a variety of other circumstances. It can help cover the cost of replacing or fixing the property and any of the contents.


Liability Coverage


Liability coverage also helps safeguard your investment. In the event anyone is ever injured on the property, this type of policy can assist in paying for legal representation and settlement costs if you are found at fault.


Other Types of Coverage


Owners who have additional structures on their property including detached garages, guesthouses, pools and hot tubs, may want to have more coverage, particularly if they own multiple properties. Purchasing an umbrella policy is another option. Insurance is also available to compensate you for the loss of rental income if the event is a covered cause of loss.


Overnight rental insurance in Tennessee can provide vacation rental property owners with peace of mind by protecting their property and financial interests.


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Take Precautions to Save Money on Your Home Insurance

Your home insurance in Augusta is designed to protect you in a worst-case scenario. While you may not be able to prevent a tornado or hurricane from destroying your home, you can do things to prevent other problems like robberies and water damage. It pays to check with your insurance agent to see if you can save money by taking steps in safety and maintenance in your home.

A fire extinguisher is a small investment that could easily save thousands of dollars in damage when kept in your home. Deadbolt locks are another safety feature, and they could prevent a costly break-in. Your agent will have a list of ways that offer discounts on your insurance. Taking time to make minor changes to your home could save you hundreds of dollars over the years on your premiums.

Prevent minor claims on your home insurance in Augusta by taking time to perform preventative maintenance on your home. Take care of your plumbing before it backs up and causes water damage to your floors. Watch for needed repairs around your property to prevent accidents from happening. When you file many small claims, your premiums may go up and you may jeopardize your insurability.

When you take care of your safety and the maintenance on your home, it will prevent more substantial losses down the road. Your home insurance in Augusta protects one of the largest investments you will ever make, and you need to do what you can to keep your insurance premiums affordable.


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Social Media Strategies for Insurance Agencies

Social media is at the peak of its heyday. This means businesses can utilize it to their full advantage for increasing brand awareness. When it comes to insurance social media is a medium that agencies can use for generating leads. However, don’t think you can just send a post here and there and expect hundreds of followers by the end of the week.

What to Include in Your Posts

Consider the following key points for effective posting when interacting with your followers and potential clients:

  • Posts should be informational; however, feel free to link to internal blog posts on your Web page.
  • Include tip-of-the-day posts, such as reminding clients to keep their insurance documents updated or encouraging prospect clients to use your free online insurance calculator.
  • Feel free to use social media lingo, such as “OMG,” “LOL,” happy faces, and even emoticons. While this may seem overly informal and even unprofessional, it may help clients see that the company consists of everyday people who are no different than the clients they serve.
  • Respond to as many individual inquiries as possible, and always address the follower by their name. If you are getting multiple similar questions, then answer it in detail in a blog post and link to it through your social media accounts.

Secure New Clients

When dealing with insurance social media is the hub for acquiring new leads from your key demographic audience. This will help form a rapport between agents and clients.


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Protect Your Property With Adequate Flood Insurance

Flood insurance is an essential part of a full protection program for your home, but many first-time home buyers are surprised to discover it is a separate policy from homeowners insurance. As in other states that are susceptible to flooding dangers, New Jersey flood insurance brokers and agents can issue policies under the National Flood Protection Program, or NFIP. New Jersey is also now one of several states to be able to offer private coverage to certain residents as well.

NFIP Coverage

National flood insurance is divided into two parts. NFIP allows for up to $250,000 for loss of structure. Business structures can be covered for up to $500,000. Residents can get coverage up to $100,000 for loss of personal property. The same amount is available for renters to cover loss of contents. The federal program benefits do not cover expenses that arise from having ones life interrupted, such as alternative housing arrangements or meals.

Additional Private Coverage

Some homeowners require more from their New Jersey flood insurance. Private insurance with extended coverage may be available for more expensive properties. High-value properties benefit from a comprehensive disaster plan that allows for adequate replacement coverage of structure and contents in the event of a catastrophic flood. An informed agent has the information to help assess your homes flood risk and choose the right amount of coverage.


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Review Your Disablity Insurance for Physicians

Most doctors under the importance of disability insurance for physicians. However, many are underinsured for their level of training, education, and specialty because they forget to review the policy to adjust coverage for career growth. If you are still relying on the same policy you took out when you started medicine, it is time to talk to your agent about upgrading your insurance.

You should also review your policy whenever you have major milestones in your life. Consider things such as buying a home, getting married, having children, or even taking on major financial responsibilities like paying for college for the fore mentioned children. You do not want to stress over how you will pay for your lifestyle after an accident or injury that affects your ability to earn an income.

Once an accident occurs, you can no longer close that gap, so its important to review your insurance coverage. It is easy to get busy and think that youre superhuman and wont ever get hurt. No one means to overlook their insurance needs, but it is very easy to let other priorities get in the way.

Dont put off a review of your disability insurance for physicians. There is no better time to protect your financial future of bringing home a paycheck for your family than right now. Make sure that your financial obligations do not exceed your disability insurance and take care of your life.

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Why Nursing Home Operators Need Insurance

Nursing homes have evolved with the times. They are no longer focused on only providing the most basic care to the elderly such as physical care. Many nursing homes now offer expanded services with the goal of providing seniors the highest quality of life. Having comprehensive nursing home insurance for agents can assist nursing home operators in managing risk, and help them to run a more professional, safe and profitable facility.

Important Way to Manage Risk

The services nursing homes and assisted living facilities offer have rapidly grown in recent years. Seniors are often able to live a much fuller life. From increased onsite and offsite activities and excursions to staff that provide more options for care to greater dining choices; the scale of operations at nursing homes has dramatically increased. With all of the expansion, comes an increased level of liability.

Older Population is Rapidly Increasing

There has never been a greater need for nursing homes and assisted living facilities; seniors are living longer and the baby boomers are getting older and requiring more care. It is particularly important for nursing homes to be thoughtful in their risk management planning as a result of the growing need for their services.
Nursing home insurance for agents is an essential way for nursing home operators to protect their interests and allow them to offer expanded services to growing senior population.


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E&O Insurance Protects Those Who Lead

As the old adage says, to err is human. Well if that’s the case, then it stands to reason that it is only a matter of time until one makes a business mistake that costs the company dearly. So while one might be wondering about cutting operating expenses by reducing E&O insurance costs and other fees, for example, it could well be a case of being penny wise and pound foolish.

This coverage goes beyond what General Liability coverage provides to offer protection for an employer and his or her workers as they toil to conduct regular business activities and fulfill the obligations of contracts and orders they have with various clients. Should they be sued by a customer who alleges that services rendered were not as promised, had a key omission, were otherwise flawed, or caused financial damage to the customer, the policy offers a variety of coverage for everything from legal defense and other court costs to paying for judgments rendered if the case is lost. Even if a lawsuit is determined to be without merit and is thrown out of court, the policy covers the costs associated with mounting a defense—which could amount to many thousands of dollars.

Look for a trusted partner for guidance

To obtain E&O coverage, it is important to work with a professional insurance agent who has experience and knowledge in this type of business policy. These experts will craft a plan that is based on a business’ unique risks and reflects any particular trends and exposures that are specific to the industry, the clientele, the nature of business, and the location. Service-oriented firms such as legal, banking, accounting, and real estate are prime candidates for this type of coverage, and because they are often judged to have “deep pockets,” those who file lawsuits against them tend to go for a big payoff. Having to pay a judgment out of pocket could significantly damage a company, or even cause it to close its doors for good.

Don’t think a lawsuit can’t happen

Talk to an agent today about the firm’s needs for this important coverage, and to learn more about E&O insurance costs. The premiums the company will pay will be insignificant in the event of a lawsuit.


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