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Errors and Omissions Insurance

Errors and omissions refer to mistakes, negligence, or discrepancies in a business’s accounting records, which can possibly be interpreted as fraud and lead to legal action. Business owners and executives have several legal and financial responsibilities that accompany their roles, and if they fail to fulfill these responsibilities by inaccurately reporting income, errors and omissions insurance will reimburse a business for problems arising from these fiduciary oversights.

As a business owner, you know how important it is to live up to your promises. Consumer trust is a key part of earning repeat business, which in turn helps to create a stronger, healthier, and more profitable company.

Errors and omissions claims have been trending higher in recent years, with multiple‑million dollar lawsuits being filed more frequently than ever before. Accordingly, most businesses need to have appropriate coverage amounts to be sure they're protected if a large claim is filed.

What E&O Insurance Covers

Policies can vary, but most forms of errors and omissions insurance cover the following. Note that some industries don't need all of the coverage mentioned below, while others may need additional coverage because of the nature of their operations. Berry Curtis Insurance agents will help you determine which coverages are best for you.

  • Claims and Damages: These are one of the major sources of potential loss that your company faces. E&O protection on claims can reimburse you for any payouts you may have to make as a result of such claims being filed.
  • Defense Costs: Whether or not you win a case, your attorney is going to expect payment. E&O insurance can reimburse you for their fees, allowing you to hire professional support without worrying that it will be too expensive for you to afford.
  • Employees, Temporary Staff, and Independent Contractors: You may be liable for the actions that anyone associated with your business takes—whether or not they're an employee. This part of the policy protects you if they make a mistake.
  • Negligence: Often considered one of the most important parts of E&O coverage, negligence coverage can reimburse you for problems like making a mistake while giving advice or failing to complete a job. Whatever the cause of the problem, ensuring you're covered will help protect your business if something goes wrong.

Errors and omissions policies payouts vary among companies depending on the possible severity of financial mishaps. If you're not sure how much of a cap your business should have in each category, call one of Berry Curtis Insurance agents today and ask them for more information. You may need to increase your policy cap as your business grows, and we can help you decide when it's time to raise the limit.

 

1. Oxford Reference, s.v. “errors and omissions,” www.oxfordreference.com/view/10.1093/oi/authority.20110803095756997?rskey=tDNztO&result=1

2. "Why Consumer Trust Is the Key to Repeat Business." The Wise Marketer. January 2005. Accessed April 18, 2016. http://www.thewisemarketer.com/features/read.asp?id=54.

3. "Claims Trends." Insurance Journal News. November 03, 2014. Accessed April 18, 2016. http://www.insurancejournal.com/magazines/features/2014/11/03/345153.htm.

Our Locations

*Main Office - Redding

2947 Victor Ave
Redding, CA 96002
Main office: 530-223-0637

Corning

705 4th Street
Corning, CA 96021
Main office: 530-838-9098

Our Providers

Testimonials

Berry Curtis Insurance has the nicest, most helpful people I have ever met. They have just great, professional people working there. I am comfortable with them. They are a good, local agency, and I will continue to use them. I was originally with Allied Auto Insurance, and I wanted a more local agency. I switched over to them, and it was the best move I ever made. They deserve kudos. Any future business having to do with insurance I will do with them, because of their level of professionalism. They deserve six stars as opposed to five stars.
Daniel S
Berry Curtis Insurance were very helpful. I had just bought a new house and car, and they packaged my insurance for me pretty easily. I just had to fill out a few forms and provide proof of stuff, then they quickly got me a quote. Everyone that I worked with was really friendly. Berry and Michael were very responsive with my phone calls, and they'd get right back to me if I left a message. They saved me about $2,000 on insurance, so it worked out for me!
Andrew B.
We have no complaints about Berry Curtis Insurance! We've been using them for about seven years, and anything we've needed, they've done. They're very responsive when we have any questions, and they've helped us very much! They're very responsive and available. Berry is very good one-on-one. He's very good at explaining things, and he's always worked on our behalf. He knows his business, and he knows insurance. We've had no reason to go anywhere else! He's a professional in a professional industry.
Kathy B.
Berry Curtis Insurance covers my home, cars, and helps me with my business. I've known him for quite a while and he's very knowledgeable. If I have any questions, I can call and he always has the time to talk about them. Out of all the insurance people I've dealt with in the last 40 years, I've never had an insurance agent more helpful than Berry Curtis.
Thomas H.
erry Curtis has been an absolute pleasure to work with over the years. While his offices are in Redding and my business and residence are located in Sacramento he has helped immensely in more ways than I can count. My wife and I have our personal auto lines, our home owners, business liability, workers comp, and our business auto's all insured through Berry Curtis Ins. It is such a luxury to have one person to talk to about so many complicated issues in our personal and business lives. Berry and his staff are extremely helpful and knowledgeable. In addition, Berry is always willing to shop around for the best rates for each of our policies and has saved me a bundle by doing so. Also, the many times in which we need service such as to file a claim, change an employee, add or alter coverage, payroll reports, etc., they are always able to help almost immediately. They respond to calls and emails immediately unlike some where you may wait days or might even never receive follow up call. Their fees are minimal and we never feel like we are being overcharged. If you need insurance of any type you can rest assured Berry Curtis will make the process as simple and pleasant as possible.
Brian S.