Colorado Errors and Omissions Insurance
If you are in the business of providing a service or advice to clients, errors and omissions insurance is an important form of coverage to help protect you if a lawsuit arises. Castle Rock Insurance offers full, customizable E&O coverage.
What is Errors and Omissions Insurance?
Errors and omissions insurance (E&O), also called professional liability insurance, is a form of specialized liability insurance that provides coverage for individuals and companies that provide professional services against claims of errors, omissions, violation of good faith, or negligence. In the event that a client suffers a financial loss due to an error or omission made by a professional such as a consultant, accountant, or lawyer, E&O insurance covers the associated legal fees and court costs as well as the compensatory costs resulting from the professional’s failure to adequately perform their duty. This type of coverage is designed to protect professionals and help them manage the financial burden of a claim and protect their assets and operations.
Is Errors and Omissions Insurance Required in Colorado?
Error and omissions insurance is not legally required in Colorado; however, some professional associations or industry-specific organizations may require their members to have errors and omissions insurance as a condition of membership. It is a highly recommended form of coverage for all professionals who perform services or give advice, such as consultants, lawyers, architects, and financial advisors. E&O insurance helps protect a variety of professionals as well as their assets and operations, and coverage can be tailored to ensure the best coverage for the unique risks faced by professionals.
Whenever you’re ready, feel free to give us a call at (720) 799-1808. Alternatively, we also have a Contact Us form here on our site for you to fill out and submit.
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