Application for professional liability errors & omissions insurance form 2025

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A claims example: The building owner sues the architect for professional negligence. The damage to the third party, the building owner, is the additional cost incurred to rectify the construction.
Errors and omissions insurance (EO; its also called professional liability insurance or professional indemnity insurance) addresses coverage gaps found on commercial general liability policies. These gaps often occur when professional services harm a client but do not cause bodily injury or property damage.
Professional Liability insurance, also known as Errors and Omissions (EO) coverage, is designed to protect your business against claims that professional advice or services you provided caused a customer financial harm due to actual or alleged mistakes or a failure to perform a service.
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Professional Liability Insurance is liability insurance that covers liability as a result of performing a profession such as doctors, lawyers, insurance agents and accountants. It can also include coverage for wrongful acts for other types of business such as beauty and barber shops to hi-tech companies.
Professional liability claims may arise out of a number of circumstances, including professional negligence, mistakes, oversights, misrepresentations, inaccurate advice, missed deadlines or undelivered services.
Professional liability insurance, also known as errors and omissions insurance, helps protect your business if your client claims financial damages from the professional service that you provide.
The two types of professional liability insurance are claims-made and occurrence. Claims-made means the policy must have been active when the event and lawsuit happened, and occurrence means that the policy covers any qualified claim resulting from an incident while the policy was active.
Errors and omissions insurance is a form of professional liability insurance. EO insurance protects companies and professionals against claims of inadequate work or negligent actions made by clients.

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