Professional Liability or Errors and Omissions (E&O) insurance is a coverage that provides coverage for accidental errors you may make in your work that concerns your professional opinion or expertise. Traditionally this coverage has applied to entities that provide services based on their professional knowledge. Doctors and lawyers are the professions we think of first. This is increasingly common coverage now for Engineers, Consultants, and Laboratories. In reality, any company that designs, recommends or advises on aspects of a project has a professional liability exposure. Many companies such as contractors have these exposures and do not realize it. This can be a whole in coverage companies can easily overlook. This coverage is restricted to the types of work the company does and excludes anything outside of your specialty. Coverage is available on a standalone basis, but is most economically purchased as a package policy with General Liability.
