Protecting Your Business From Every Angle
Errors and omissions insurance protects your business, but it’s not the only policy you need to keep your company safe from claims of malpractice or negligence. There’s also directors and officers insurance. If you know the difference between D&O vs E&O insurance, you can build the best policy that protects your business.
Errors and Omissions Insurance
Professional liability insurance, or errors and omissions insurance, is the most common form of coverage businesses believe they need for protection against malpractice claims. This provides protection for any employee and the overall business for a broad range of coverage. E&O covers the following claims:
Financial harm rendered based on your advice or services
Directors and Officers Insurance
Directors and officers insurance is different from E&O in that it specifically protects the executives of a business when it comes to management decisions. The following claims can be covered by D&O insurance:
Sharing of sensitive information
Employment practice claims
Poor investment decisions
If you want to protect your business, you need to understand D&O vs E&O insurance policies and how they differ from one another. Then, you can make sure you have appropriate coverage with a combination of the two that suits your company and keeps your business protected from the executive suite down to the employees who interact with clients.