15 Best Errors and Omissions Insurance Companies

Looking for Best Errors and Omissions Insurance Companies? You are in the right place.
In the intricate world of business, safeguarding your operations against unforeseen mistakes and oversights is not just a necessity; it’s an imperative. Errors and Omissions (E&O) insurance emerges as a guardian in this scenario, offering protection when you least expect, yet most need it.

Lets delve into the realm of E&O insurance with a unique lens, highlighting the top 15 companies that stand out in the market for their exceptional services, coverage options, and reliability.

1. Hiscox: A Pioneer in Customization

Hiscox stands tall with its customizable E&O insurance policies, tailored to meet the specific needs of businesses across various industries. Known for its agility and expertise in catering to small businesses and professionals, Hiscox offers a seamless online purchasing experience and swift claim resolutions, making it a preferred choice for many.

2. Chubb: Global Reach with Local Touch

Chubb’s global presence backed by local expertise offers a compelling combination for businesses seeking extensive coverage with a personal touch. Their E&O insurance is designed for a wide range of professions, providing comprehensive protection against negligence, misrepresentation, and similar claims.

3. CFC Underwriting: Innovating Cyber Protection

In the digital age, CFC Underwriting shines with its forward-thinking approach to E&O insurance, integrating cyber liability coverage to protect businesses in the event of data breaches and cyber-attacks. This innovative blend makes CFC a go-to for tech-savvy companies.

4. Travelers: A Legacy of Trust

Travelers’ storied history and commitment to providing robust E&O insurance solutions have made it a trusted name among professionals. With tailored policies for different sectors, including real estate and technology, Travelers focuses on comprehensive risk management.

5. Axis Insurance: Specialized Solutions for Professionals

Axis Insurance excels in offering specialized E&O coverage that addresses the unique risks faced by various professionals. From architects and engineers to lawyers and accountants, Axis provides targeted solutions that ensure peace of mind.

6. Markel American Insurance Company: Expertise in Niche Markets

Markel American distinguishes itself by focusing on niche markets and offering E&O insurance tailored to the specific needs of these segments. Their personalized approach and in-depth understanding of unique industry risks make them a preferred partner for specialized businesses.

7. Argo: Dynamic Coverage for a Changing World

Argo’s dynamic E&O insurance solutions are designed to adapt to the evolving business landscape, offering coverage that keeps pace with changing industry norms and practices. Their proactive risk management services further enhance their appeal.

8. Nationwide: Comprehensive Protection Across the Board

Nationwide is renowned for its comprehensive E&O insurance policies that cater to a broad spectrum of professionals and businesses. Their commitment to protecting clients from a range of liabilities makes them a solid choice for those seeking extensive coverage.

9. Admiral Insurance Group: Tailored Policies for Unique Risks

Admiral Insurance Group specializes in crafting E&O insurance policies that address the unique risks of various professions. Their expertise in underwriting complex risks ensures that businesses receive the protection they need against potential errors and omissions.

10. Allied World Assurance Company: Global Expertise, Local Service

With a global network and a focus on local service, Allied World Assurance Company offers E&O insurance solutions that combine international expertise with a personal touch. Their risk management services further bolster their offerings, providing clients with added value.

11. Allstate: A Household Name for Businesses

Allstate, a name synonymous with insurance, extends its reliable coverage to the realm of E&O insurance, offering policies designed to protect businesses against financial losses resulting from errors, omissions, or negligence in their professional services.

12. Insurancebee: Simplifying E&O Insurance for Small Businesses

Insurancebee shines by simplifying the process of obtaining E&O insurance for small businesses and freelancers. Their straightforward approach, competitive pricing, and focus on customer service make them a popular choice among emerging businesses.

13. Liberty Mutual: A Beacon of Stability

Liberty Mutual’s reputation for stability and reliability extends to its E&O insurance offerings, providing businesses with a secure foundation to guard against professional liabilities. Their tailored policies ensure that clients receive coverage that matches their specific needs.

14. Progressive: Forward-Thinking Insurance Solutions

Progressive brings its innovative approach to the E&O insurance market, offering flexible policies that cater to the diverse needs of modern businesses. Their focus on technology and customer service enhances their appeal, particularly among tech-forward companies.

15. RSUI: Expertise in Excess and Specialty Insurance

RSUI stands out for its expertise in providing excess and specialty E&O insurance, offering solutions for high-risk businesses and complex professional liability scenarios. Their depth of knowledge in this area makes them a valuable ally for companies navigating challenging risk landscapes.

Selecting the right E&O insurance provider is a critical decision that can significantly impact your business’s resilience and long-term success. The companies listed above represent the cream of the crop in the E&O insurance industry, each bringing unique strengths and specialties to the table. Whether you’re a small startup, a tech innovator, or a professional services firm, there’s an E&O insurance provider out there that fits your specific needs.

What is E&O Insurance?

Errors and Omissions (E&O) insurance, also known as Professional Liability Insurance, is a form of liability coverage that protects businesses, their workers, and other professionals against claims of inadequate work or negligent actions.

This type of insurance is crucial for any business or individual that provides a service or advice to clients for a fee. E&O insurance helps cover the cost of defending against a lawsuit claiming that the work or advice was unsatisfactory, incorrect, or failed to meet a client’s expectations. It can pay for settlements, judgments, and legal defense costs up to the coverage limits of the policy.

E&O insurance is designed to fill a critical gap not covered by general liability insurance, which typically does not cover claims arising from professional services or advice.

The core idea behind E&O insurance is to protect professionals and businesses from the financial consequences of claims related to their professional expertise, errors, omissions, or negligence that have caused a financial loss for their clients.

Who Needs E&O Insurance Coverage?

A wide range of professionals and businesses may need E&O insurance coverage, especially those in fields where clients depend on their expertise and advice. Here are some examples:

Healthcare Professionals:

Including doctors, nurses, and therapists, where there’s a risk of malpractice claims.

Legal Professionals:

Lawyers and legal advisors need E&O insurance to protect against claims of negligence or inadequacy in providing legal services.

Real Estate Agents and Brokers:

These professionals require E&O insurance to cover claims related to the buying or selling process, such as misrepresentation or failure to disclose property flaws.


Business, management, and IT consultants need E&O coverage to protect against claims arising from the advice and solutions they provide to clients.

Financial Services Professionals:

This includes accountants, financial planners, and insurance agents, who need E&O insurance to cover claims related to financial management and advice.

Architects and Engineers:

These professionals rely on E&O insurance to protect against claims related to design flaws, structural failures, or project delays.

Advertising and Marketing Agencies:

To cover claims related to misrepresentation or failure to deliver services as promised.

Technology Service Providers:

Including IT consultants, software developers, and web hosting companies, need E&O insurance to protect against claims related to software performance, data breaches, or system failures.

How does E&O insurance work?

Errors and Omissions (E&O) insurance, also known as Professional Liability Insurance, is designed to protect businesses and professionals against claims of negligence or inadequate work. This type of insurance plays a crucial role in mitigating the financial risk associated with claims made by clients for services rendered that did not meet expectations or caused financial loss. Here’s a closer look at how E&O insurance works:

Fundamental Principles of E&O Insurance

Protection Against Negligence Claims:

E&O insurance covers legal fees, settlements, and judgment costs arising from lawsuits alleging negligence, mistakes, or failures to perform professional services as promised. It is not limited to just the errors you make but also extends to perceived errors or omissions in your work.

Covers Defense Costs:

Even if the claim against you is unfounded, the cost of defending yourself in court can be substantial. E&O insurance helps cover these legal defense costs, which can include lawyer fees, court costs, and settlements or judgments.

Claims-Made Basis:

Most E&O policies are issued on a claims-made basis. This means coverage is only provided for claims made and reported to the insurer during the policy period. It’s important to maintain continuous coverage, as any gaps can leave you exposed to uninsured claims.

Retroactive Date and Extended Reporting Periods:

Policies often include a retroactive date, which is the earliest date for an incident that can lead to a claim under the policy. Some policies also offer an extended reporting period (ERP) or tail coverage, allowing claims to be reported after a policy has expired, provided the incident occurred after the retroactive date and before the policy’s end.

What E&O Insurance Covers

Professional Negligence: Failing to provide a service at the expected level of expertise.

Mistakes and Oversights: Errors or omissions that result in client loss or dissatisfaction.

Misrepresentation: Claims that your work or services were not as advertised.

Violation of Good Faith and Fair Dealing: Allegations of not acting in good faith or undermining a client’s interests.

Incorrect Advice: Consequences of giving faulty advice or consultations.

What E&O Insurance Does Not Cover

Intentional Misconduct: E&O insurance does not cover claims arising from intentionally fraudulent or criminal acts.

Bodily Injury or Property Damage: These are typically covered under General Liability Insurance, not E&O policies.

Employment Issues: Wrongful termination, harassment, or other employment-related claims are usually covered by Employment Practices Liability Insurance (EPLI).

Patents and Trade Secrets: Infringement of intellectual property rights often requires specialized coverage.

How Much Errors And Omissions Insurance Cost?

The cost of Errors and Omissions (E&O) insurance varies widely depending on several factors related to your business and the level of risk associated with the professional services you provide. Typically, premiums can range from a few hundred to several thousand dollars per year. Here are some key factors that influence the cost of E&O insurance:

1. Industry and Services Provided

Some professions are considered higher risk than others. For example, legal and medical professionals may pay more for E&O insurance due to the high potential cost of litigation in these fields. Conversely, fields with lower associated risks might enjoy lower premiums.

2. Business Size and Revenue

Larger businesses with higher revenues often face higher E&O insurance costs because the potential for significant claims increases with the size and scope of the services provided.

3. Coverage Limits

The amount of coverage you choose will significantly affect your premium. Higher coverage limits offer more protection but come at a higher cost. Businesses must balance their need for protection with the premium they can afford.

4. Deductible

Choosing a higher deductible, which is the amount you pay out of pocket before your insurance kicks in, can lower your premium. However, you must be prepared to cover this amount if a claim is made against you.

5. Geographical Location

The location of your business can also impact your E&O insurance cost, with premiums varying by state and country due to differences in legal systems and claim frequencies.

6. Claims History

Businesses with a history of claims may face higher premiums because insurers view them as higher risk.

7. Policy Features and Endorsements

Additional features or endorsements added to a policy can increase its cost. These might include coverage for specific risks unique to your profession or business.

Average Costs

While it’s challenging to pinpoint an average cost due to the factors mentioned above, here are some broad estimates for different professions:

  • Consultants might pay between $500 to $1,000 annually for a basic policy with moderate coverage limits.
  • Accountants and Financial Planners can expect to pay anywhere from $1,000 to $2,500 per year.
  • Real Estate Professionals often see premiums in the range of $500 to $2,000 annually.
  • Legal Professionals and Architects/Engineers might face higher costs, potentially several thousand dollars per year, depending on the specifics of their practice and the associated risks.

Importance of E&O Insurance

E&O insurance is essential for professionals and businesses that provide services or advice, including consultants, engineers, architects, real estate agents, lawyers, accountants, and IT professionals. It safeguards against the significant financial and reputational damage that can result from legal actions due to perceived or actual failures in their professional services.

Ultimately, E&O insurance provides peace of mind, allowing professionals to focus on their work with the knowledge that they have financial protection against the unpredictable outcomes of their professional endeavors.

Errors and Omissions Insurance Frequently Asked Questions (FAQs)

How Do I Choose the Best E&O Insurance Company?

Look for companies with strong financial stability, positive customer reviews, and a history of handling claims efficiently. Consider insurers that specialize in your industry or profession, as they will better understand your specific needs.

Where Can I Purchase E&O Insurance?

E&O insurance is available from many insurance providers and brokers. It’s advisable to get quotes from several insurers to compare coverage options and premiums. Specialized brokers in your industry can also provide valuable insights and help find the best policy for your needs.

Is E&O Insurance Required by Law?

While not generally required by law, certain professions and contractual agreements may mandate E&O coverage. Even when not legally required, it is a prudent choice for risk management.

Can I Get E&O Insurance with a Previous Claims History?

Yes, but having a history of claims may increase your premiums. Some insurers specialize in providing coverage to higher-risk clients, so it’s still possible to find a policy that meets your needs.

What’s the Difference Between E&O Insurance and General Liability Insurance?

E&O insurance covers financial losses and lawsuits stemming from your professional services or advice, while General Liability Insurance covers bodily injury, property damage, and advertising injury claims unrelated to your professional services.


The best way to determine how much E&O insurance will cost for your specific situation is to obtain quotes from multiple insurers. This process allows you to compare coverage options and find a policy that offers the best balance of protection and cost for your needs. Additionally, working with an insurance broker experienced in your industry can help you navigate the complexities of E&O insurance and secure coverage that’s tailored to your risk profile and budget.

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