Protect Your Business from liability incurred from Errors and Omissions (E&O)

CME Offers Liability Insurance for Professionals in most fields of specialization.

As a professional, your training and experience makes you part of a highly regarded community of people that are in demand due to the specialty services they provide. Whether you are a doctor, engineer, lawyer or accountant; practicing as an individual or working for a company, you are among the professionals that people reach out to for advice and consultation. However, you are only human and can occasionally make errors—what if these errors cost you your business, your reputation, and more? What if your advice or consultation goes wrong or is misinterpreted? As a professional with a large or small practice, you carry the risk of being sued, justifiable or not, for malpractice or professional liability, which can threaten your career and significantly impact your revenues.

Errors & Omissions (E&O) Insurance protects professionals individually or the corporations they represent from possible errors or omissions during conducting business. E&O policies are a form of liability insurance for professionals that protects them and their employer organizations from bearing the full cost of defending against a negligence claim made by a client and any damages which may be awarded in such a civil lawsuit.

Your E&O insurance policy would typically cover the following:

Financial losses caused by error or omission
Alleged failure to perform
Wrongful act
Defense costs
Misstatements or misleading statements
Breach of confidentiality
Unintentional breach of contract

Types of E&O policies

E&O policies take different forms depending on the profession that you practice

Miscellaneous Professional Indemnity for consultants, lawyers and solicitors, teachers, IT developers, designers, programmers, trainers, translation services, tour / travel agencies, hotel consultancies, arbitrators, court experts, etc. Applicable to individual practitioners and companies engaging such practitioners for assignments.

PROPOSAL FORM

Financial Institutions Professional Indemnity for investment advisors, wealth managers, stock brokers, insurance companies, insurance brokers, bankers, etc. Applicable to individual practitioners and companies engaging such practitioners.

PROPOSAL FORM

Medical Malpractice Insurance for entities such as clinics, nursing homes, diagnostic centers, pharmacies, cosmetology centers, spas, etc. This type of coverage is required by the regulatory authorities and can be obtained by practitioners as a group entity covering the Entity as well as all of its employees, irrespective of specialization.
Important to remember that even though government regulations only require the individual practitioners to carry this insurance, that does not protect the assets of the employing entity and its shareholders who could suffer the predominant portion of the liability especially as they would be recognized as the deep pocket defendant.

PROPOSAL FORM

Directors and Officers Insurance for the senior executives of a company. This policy pays out in defense of the directors and officers of a company or the corporation itself to cover damages or defense costs suffered in the event of a lawsuit for alleged wrongful acts while acting in their capacity as directors and officers for the organization.
Growing legal responsibilities of Directors and Officers of companies across the globe makes it imperative for Companies to not only protect themselves against liability which accrues from actions of their Ds & Os, but also behooves the Companies to offer this protection to their executive directors and officers and their non-executive board members too. In many cases, without this cover, it can even be difficult to have the best Board of Directors.

PROPOSAL FORM