Errors & Omissions insurance
Why choose Zurich for Errors & Omissions insurance?
Zurich’s E&O insurance, also called Professional Liability Insurance, is designed to deliver solutions and peace of mind. We can help cover expenses associated with:
- Defense costs
- Court fees
- Settlements or judgements
- Crisis management
Zurich’s Pro Plus policy brings flexible, effective solutions to the market. We give practitioners in technology, manufacturing and a variety of professional service industries the flexible, effective solutions they need. It also includes cyber coverages that are crucial in today’s digitally focused business environment.
Our expansive offerings and deep knowledge can also help you explore different approaches to E&O coverage through Captives and other alternative structures for a diverse portfolio of often complex risks.
Flexible solutions
Pro Plus is a comprehensive suite of coverages in one program, with a modular format that lets customers choose the solutions they need in one single, efficient policy.
Claims and underwriting advantage
Our Claims specialists include qualified, experienced attorneys dedicated to this space who understand the unique challenges of professional liability issues. Our dedicated E&O underwriters bring extensive knowledge and experience to support our customers.
Global reach
Zurich’s presence in more than 200 countries and territories addresses exposures on a multinational basis and helps provide protection where you do business.
Benefits of Errors & Omissions insurance
Benefits available to Pro Plus customers include:
- Admitted insurance coverage for E&O available in most states
- Duty to defend
- Defense costs for privacy-related regulatory proceedings
- Consumer-redress funds coverage following a privacy breach
Pro Plus enhanced endorsements can help provide an even greater array of protections to qualified customers:
- Alternative dispute-resolution incentives
- Bodily injury/Property damage (BI/PD) carve-back
- Crisis-management coverage
- eDiscovery services
- Pro rata cancellation
- Retention-reduction options
In addition, cyber security solutions include the ability to insure professional liability and Security and Privacy (S&P) exposures under a single limit; covered exposures that include business income loss, system failure and social engineering; and risk mitigation solutions from experienced cyber risk specialists dedicated to helping protect your business from ever-evolving cyber threats.
How E&O fits into your risk management strategy
Errors & Omissions insurance plays a critical role in a comprehensive risk management plan. While Commercial General Liability (CGL) covers bodily injury and property damage, it typically excludes financial losses caused by professional services. E&O insurance fills this gap, addressing claims of negligence, mistakes or failure to deliver services as promised. It also complements Cyber Insurance by covering financial losses tied to professional services, such as a technological failure impacting a client’s business. Zurich Pro Plus integrates E&O and Cyber coverage into a unified framework, helping businesses manage interconnected risks through a coordinated coverage structure.
Zurich handles E&O claims
Zurich’s claims process is designed to simplify the complexities of professional liability matters. When a claim is reported, Zurich’s claims professionals review the situation, evaluate coverage and coordinate response activities based on policy terms. Each claim is handled based on its unique facts and applicable policy terms, with attention to the allegations presented. Zurich engages experienced legal counsel to develop defense strategies and keeps stakeholders informed throughout the process. With a focus on clarity, compliance and coordinated oversight, Zurich helps businesses navigate the claims process through clear communication and informed guidance.
Errors & Omissions (E&O) insurance, also called professional liability or professional indemnity insurance
FAQs
Errors & Omissions (E&O) insurance helps protect professional service providers from the risks associated with their work. In fast-paced industries, mistakes or unforeseen complications can happen, leading to costly litigation or reputational damage. Whether you're a software developer launching a new platform, a manufacturer producing critical components or a consultant advising on multimillion-dollar projects, the potential for human error is always present. Zurich’s E&O insurance is designed to help address covered claims, including defense costs, settlements and legal expenses, subject to policy terms. As part of an organization's broader approach risk management this coverage helps transfer financial risk, enabling businesses to focus on delivering their services with confidence.
Our expansive list of targeted classes includes, but is not limited to, technology (computer hardware and software products, and technology service providers); manufacturing (component manufacturers and contract manufacturers), and third-party service providers.
Consider these scenarios:
- Failure to perform: A foreign corporation opening a manufacturing facility in the U.S. hired a business consulting firm to provide recommendations about location, suppliers and labor force. After following their advice, the corporation experienced problems and unexpected costs, and sued the consulting firm for negligence. The consultant countersued, blaming the foreign corporation for providing inaccurate information about its proposed facility.
- Failure to perform background checks: A corporation hired an executive search firm to supply a list of candidates to fill its CEO position. After a CEO was chosen, they discovered the individual knew nothing about their business and sued the search firm for negligence.
The risk is ever-present. Even the most consummate professionals can make a mistake, but even unwarranted lawsuits can leave you vulnerable to legal claims that will demand your attention, time and money.