Errors and Ommissions

Error & Omissions Liability Insurance

Protect Your Business from Costly Mistakes

Get comprehensive coverage in minutes to safeguard your company from claims arising from professional errors, omissions, or negligence.

Trusted by over 500 top clients, from startups to industry leaders

What is E&O Insurance?

Errors & Omissions (E&O) Insurance, also known as Professional Liability Insurance, protects your business from claims of negligence, errors, or omissions in the services you provide. Whether you're a consultant, a tech startup, or a financial advisor, E&O insurance covers legal fees, settlements, and judgments, ensuring that one mistake doesn't jeopardize your business.

Why take E&O Insurance?

Protection Against Professional Mistakes

E&O insurance provides essential coverage for claims of negligence, errors, or omissions that could arise from your professional services. It protects your business from the financial burden of legal defense costs and potential settlements.

Client Contract Requirements

Many clients, especially in industries like finance, technology, and consulting, require proof of E&O insurance before entering into contracts. This coverage ensures you meet contractual obligations and maintain trust with your clients.

Industry-Specific Risks

Different industries face unique risks. Reco's E&O policies are tailored to address these specific challenges, offering comprehensive coverage that aligns with the risks inherent in your field, from tech errors to financial advisory mistakes.

Protection Against Professional Mistakes

Client Contract Requirements

Industry-Specific Risks

What is the process to take E&O Insurance

1 Consultation

Reco’s experts will help you identify the right D&O policy that suits your needs.

2 Quotation

Obtain and compare quotes from multiple insurers to find the best coverage at the most competitive price.

3 Policy Issuance

Once underwritten, the insurer will issue the policy, and coverage begins upon payment of the premium.

How much coverage should I take for E&O Insurance?

Small Businesses

Coverage: ₹2 crore to ₹10 crore

Small businesses and startups need coverage between ₹2 crore and ₹10 crore to protect against initial risks in client services, particularly in fields like consulting and IT.

Mid-Sized Companies

Coverage: ₹10 crore to ₹50 crore

As your business expands, so do your risks. Coverage between ₹10 crore and ₹50 crore ensures your company is protected against larger claims that could arise from high-profile clients or larger projects.

Large Enterprises

Coverage: ₹50 crore to ₹100 crore+

For large enterprises with complex operations and high-value contracts, substantial coverage of ₹50 crore to ₹100 crore or more is essential to manage the risk of significant claims that could impact your bottom line.

What is not covered under E&O Insurance?

Intentional wrongdoing or fraud

Bodily injury or property damage (covered under Commercial General Liability)

Cybersecurity incidents (covered under Cyber Liability Insurance)

Claims made against Directors & Officers of the company (covered under D&O insurance)

What is not covered under E&O Insurance?

Intentional wrongdoing or fraud

Bodily injury or property damage (covered under Commercial General Liability)

Cybersecurity incidents (covered under Cyber Liability Insurance)

Claims made against Directors & Officers of the company (covered under D&O insurance)

What is covered under E&O Insurance?

Legal defense costs

Settlements and judgments

Claims of negligence

Professional errors and omissions

Breach of contract claims

Misrepresentation or failure to deliver services

What is not covered under E&O Insurance?

Intentional wrongdoing or fraud

Bodily injury or property damage (covered under Commercial General Liability)

Cybersecurity incidents (covered under Cyber Liability Insurance)

Claims made against Directors & Officers of the company (covered under D&O insurance)

What is covered under E&O Insurance?

Legal defense costs

Settlements and judgments

Claims of negligence

Professional errors and omissions

Breach of contract claims

Misrepresentation or failure to deliver services

Who can sue your business E&O claims?

Clients, for errors or omissions in services provided

Vendors, for contractual breaches or negligence

Partners, for disputes over project outcomes or responsibilities

Regulators, for non-compliance with industry standards

Who can sue your business E&O claims?

Clients, for errors or omissions in services provided

Vendors, for contractual breaches or negligence

Partners, for disputes over project outcomes or responsibilities

Regulators, for non-compliance with industry standards

Who can sue your business E&O claims?

Clients, for errors or omissions in services provided

Vendors, for contractual breaches or negligence

Partners, for disputes over project outcomes or responsibilities

Regulators, for non-compliance with industry standards

Errors & Omissions Claims Examples

Faulty Software Update

What happened?

A global technology giant sued a cybersecurity provider after an incorrect software update led to a critical system shutdown for the technology giant’s clients, causing significant business interruption and financial losses.

How claim was paid?

The E&O insurance covered the legal defense costs and the settlement amount to compensate the cybersecurity provider for the disruption and damages incurred.

Mis-selling of Financial Products

What happened?

A financial advisory firm was sued by clients after they were misled into investing in high-risk products that did not match their risk profiles, leading to significant financial losses.

How claim was paid?

The E&O insurance covered the legal defense costs and the settlements paid to the affected clients, protecting the firm from substantial financial liabilities.

Diagnostic Error Leading to Incorrect Treatment

What happened?

A hospital faced a lawsuit after a diagnostic error resulted in a patient receiving incorrect treatment, leading to further health complications and unnecessary procedures.

How claim was paid?

The E&O insurance covered the legal defense costs and the settlement paid to the patient’s family, shielding the hospital and medical staff from the financial impact of the negligence claim.

Diagnostic Error Leading to Incorrect Treatment

What happened?

A hospital faced a lawsuit after a diagnostic error resulted in a patient receiving incorrect treatment, leading to further health complications and unnecessary procedures.

How claim was paid?

The E&O insurance covered the legal defense costs and the settlement paid to the patient’s family, shielding the hospital and medical staff from the financial impact of the negligence claim.

Why Take E&O Insurance from Reco?

Comprehensive Coverage

Reco offers tailored policy terms and coverage designed specifically for your industry, ensuring you have the protection you need.

Lowest Rates

With experience serving over 500 large clients, Reco has secured pre-negotiated, competitive rates from top insurers, giving you the best value.

Fast Process

As a tech-enabled broker, Reco has streamlined the purchase process, minimizing the information required and delivering you quotes within a few hours.

Single Place for All Insurance

Reco helps you consolidate all your business insurance needs in one place, saving you time and leading to lower rates for you. As part of the Nova Benefits group, which specializes in employee benefits insurance, you’ll have the option to take employee benefits insurance (health, term, accident) through us, helping you manage high-volume claims where employee satisfaction is a top priority.

Single Place for All Insurance

Frequently Asked Questions

How do I know how much E&O coverage I need?

What is retroactive coverage in E&O insurance?

Can E&O insurance cover past claims?

Does E&O insurance cover breach of contract claims?

How is the cost of E&O insurance determined?

Is E&O insurance mandatory?

What’s the difference between E&O and General Liability insurance?

Does E&O insurance cover intentional wrongdoing?

Who needs E&O insurance?

What is E&O insurance?

Frequently Asked Questions

How do I know how much E&O coverage I need?

What is retroactive coverage in E&O insurance?

Can E&O insurance cover past claims?

Does E&O insurance cover breach of contract claims?

How is the cost of E&O insurance determined?

Is E&O insurance mandatory?

What’s the difference between E&O and General Liability insurance?

Does E&O insurance cover intentional wrongdoing?

Who needs E&O insurance?

What is E&O insurance?

Protect Your Business from Costly Mistakes

Protect Your Business from Costly Mistakes