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What is Errors and Omissions Insurance?
If you have a professional services business, having errors and omissions insurance coverage can be an integral part of protecting your business. Accusations of negligence or the failure to perform your professional services are things that any professional services business can be sued for, even if it hasn't made a mistake. View our quote examples to understand how much errors and omissions insurance costs.
Why do I need Errors and Omissions Insurance?
Hiscox errors and omissions insurance coverage, also known as professional liability insurance, provides protection for your professional services business from claims of negligence or failure to perform your professional duties. You should seriously consider errors and omissions coverage if your business:
- Is required by its clients to have E&O insurance.
- Provides a professional service.
- Regularly gives advice.
What does Errors and Omissions Insurance cover?
What is covered?
- Defense costs
- Alleged or actual negligence
- Temporary staff and independent contractors
- Claims arising from services provided in the past
- Claims and damages
- Personal injury (e.g., libel or slander)
- Copyright infringement
What is not covered?
- Employment matters
- Fraudulent acts
- Bodily injury or property damage
- Personally identifiable information
- Patents and trade secrets
- False advertising
- Other services
Example professions we insure
Your Errors and Omissions Insurance policy covers claims of
Hiscox will defend you, even if the lawsuit is groundless. We even pay for supplemental expenses you incur as a result of attending an arbitration proceeding trial in the defense of a covered claim.
Alleged or actual negligence
Errors and omissions insurance coverage is strongly recommended to protect your business from claims alleging negligence from your professional services including failing in your "duty of care", giving incorrect advice or making mistakes.
Temporary staff and independent contractors
Hiscox covers claims arising from business-related services completed by your employees, temporary staff and independent contractors.
Claims arising from services provided in the past
We’re one of the few insurers to cover unknown claims from services your business has performed in the past. Most errors and omissions insurance carriers will only cover your services originating from the date you purchased your first policy. Hiscox covers you even before you purchased your first E & O insurance policy (retroactive coverage).
Claims and damages
It’s better to be safe than sorry. If you lose a large claim, it can affect the financial stability of your business. Your Hiscox policy covers claims for monetary damages and non-monetary relief, including up to $250,000 of punitive damages where allowed by law.
Personal injury (e.g., libel or slander)
Hiscox protects you against personal injury claims (e.g., libel or slander) that arise while rendering your professional services.
We customize your errors and omissions insurance coverage for the specific needs of your business. For example, if you are an IT/technology consultant, you could run the risk of being sued for allegedly infringing on software code. For most businesses in this profession, Hiscox offers up to $200,000 of coverage for damages and claims expenses for just such a situation.
Similarly, for marketing consultants, we include up to $200,000 of coverage for claims alleging the infringement of a third party’s copyrights or trademarks that may arise while rendering your professional services.
Worldwide errors and omissions insurance coverage
At Hiscox, we believe your insurance should follow you wherever your business takes you. Our E&O insurance covers claims arising from work you do anywhere in the world, as long as the claim is filed in the United States, its territories or Canada.
What your Hiscox Errors and Omissions Insurance policy doesn't cover
We want our customers to fully understand what they are buying. Below is a summary of some of the key exclusions of your errors and omissions insurance policy. For complete details of all the exclusions, please read the policy wording.
Your policy doesn't cover your business for claims alleging any improper employment practices committed against your employees or for any workers’ compensation claims or employer's liability claims.
We won’t cover any fraudulent, dishonest or criminal acts. However, we’ll defend these actions until they’re proven to be fraudulent, dishonest or criminal by proper process in court. If this happens, we’ll kindly request that you reimburse us for those costs.
Bodily injury or property damage
Hiscox errors and omissions insurance doesn't cover damages or claims expenses for third-party injuries (slip and falls) or damage to someone’s property. To protect your business from these risks, please see our general liability insurance coverage page.
Personally identifiable information
Your errors and omissions insurance coverage policy does not cover your business’s failure to protect any personally identifiable information in its care, custody or control.
Patents and trade secrets
Your policy does not cover your business for any claims that allege an infringement of a patent or theft of a trade secret.
Your Hiscox E&O insurance policy does not cover you for any false advertising claims.
We don’t cover any services you perform not specified by the services endorsement attached to your policy. Your policy will also not cover any medical, nursing, insurance broker/agent, legal, actuarial, architectural or engineering services, regardless of your occupation.
Learn more about Errors and Omissions Insurance
We have compiled some common questions people ask about errors and omissions insurance (E & O insurance), also known as professional liability insurance. If you have any other questions not listed on our FAQ's page don't hesitate to contact one of our licensed advisors, either by phone at 1-866-283-7545 (Monday - Friday, 8 am - 10 pm EST) or email.
Visit our errors & omissions FAQs page.
Get Liability Insurance that best meets your needs
Errors and omissions insurance will not protect your business from everything. For example, it will not provide coverage for another person’s claims of bodily injury. Some people purchase additional business insurance products including:
Why choose Hiscox?
- Flexible payment options: We offer you the option of making monthly payments (with no additional fees) to help you manage your cash flow.
- Tailored insurance: We specialize in businesses like yours and tailor coverage to the risks in your field.
- Claims responsiveness: When a covered claim is reported, we will immediately defend you even if the claim has no basis and, if necessary, appoint an attorney.
- Coverage for contracts: Our liability insurance coverage satisfies most standard contract insurance requirements.
- Worldwide coverage: We protect you for work done by your business anywhere in the world, as long as the covered claim is filed in the United States, a U.S. territory or Canada.
- Passion for service: Agents knowledgeable about your business concerns will provide you with excellent service – 4.7/5 of people surveyed recommended us.
Get a fast, free quote now and get that Hiscox confidence behind your business. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET.
Hiscox Customer Reviews
Mark, Columbus, Ohio
“Excellent service by Hiscox”
Fast quote for my new small business.
Connie, Scottsdale, AZ
“Best Price I Found, Quick and Easy Process”
Used them before and had no problems. Had the best price for what was offered. Very easy to maneuver the site and the process was very quick.
Jacob, Florence, KY
“Making the complex easy”
It was relatively easy to work through the application and funding process. Had looked at another carrier, and was disappointed at the complexity
Shannon, Dallas/ Ft. Worth Area
It was easy and the agent we spoke with was very personable and knowledgeable. She made the process simple and straightforward.
Brandi, Lakeland, Florida
Made it very easy to obtain all I needed for my professional and personal liability insurance. Quickly got all my certifications for my different locations, couldn’t be happier
K. Henry, Seattle, WA
“Easy Process and Good Pricing”
I recently bought E&O insurance for a consulting business I started. The process was very easy to follow and didn't take much time. I had the E&O insurance I needed immediately. The pricing was extremely competitive. I also ... verified Hiscox's A.M. Best Rating. They were given a solid rating.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.