Errors & Omissions Insurance Questions
How Do I Obtain an E&O Insurance Policy?
Determining if you can get an errors and omissions insurance policy is relatively easy.
It starts with filling out an application for E&O insurance, which typically will ask for information such as name, address, type of business, annual revenues and something about your business. An application may also require financial statements or management bios.
Errors and omissions policies are based on a number of factors, including:
- Type of Professional Services Provided
- State where Services are Provided
- Annual Revenues
- Loss / Claims History
The premium for an errors & omissions insurance policy will be centered on several issues, including the limits of liability and deductible one selects for their marketing consulting company.
Interview your agent, get references and determine their qualifications and understanding of the industry.
A professional liability agent or broker should have specific knowledge in dealing with your specific type of industry and have the requisite experience and insurance markets to help you.