Oops-Proof Your Advice - E&O Insurance for Professionals
Covers mistakes, missed deadlines, and advice that backfires. E&O shields consultants, tech firms, auditors, and other service pros from client suits claiming negligence or oversight.
You advise. We absorb the fallout.
- Defence costs, settlements and judgments for professional errors
- Claims-made wordings with retroactive date options
- Customised limits for tech, finance, legal, and advisory firms
Key fact: E&O (also called Professional Indemnity in many trades) protects businesses that give advice or professional services from claims of negligence, mistakes, or omissions. Typical Indian insurer wordings and local market practices apply.
E&O Insurance
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What is Errors & Omissions Insurance?
E&O insurance pays for legal defence costs, settlements and damages if a client claims your advice, design, or work was wrong, late, or incomplete and caused financial loss. It’s usually written on a claims-made basis (meaning the policy in force when the claim is made matters) and often requires a retroactive date to cover earlier services. This is essential for people selling know-how, not widgets.
Why Is This Policy Vital?
Legal fees add up fast – even meritless suits can drain startup funds. E&O covers the bills.
Contracts and clients often require consultants, auditors and vendors to carry E&O.
For tech products, API/uptime mistakes and data errors can cause cascading commercial losses – E&O helps manage those fallout costs.
Who Needs E&O?
Consultants & Advisory Firms
advice liability and missed deadlines.
Software, SaaS & Fintech Vendors
coding/implementation mistakes and downtime.
Architects, Engineers & Designers
design errors and construction claims.
Accountants & Tax Advisors
misstatements and missed filings.
Agencies & Marketing Consultants
faulty strategies, campaign misfires.
Types / Add-ons Commonly Offered
Claims-made E&O with retroactive date option
Run-off / Discovery period (after policy expiry)
Prior-acts protection (for earlier services if agreed)
Cyber-E&O hybrid (for tech vendors where error causes data loss)
Defence-only limits (for small consultancies)
Coverage - What E&O Pays For
Defence Costs (lawyers, experts)
Settlements & Judgments
Regulatory Defence (where endorsed)
Loss of Client’s Financial Loss (if insured by wording)
Crisis PR & Forensic IT (optional add-ons)
Arbitration & Mediation Costs
Breach of Contract (where covered)
Negligent Misstatement or Advice
Inclusions & Exclusions
Inclusions
Negligent acts, errors, omissions in professional services (subject to wording).
Defence costs and settlements up to policy limit.
Claims reported during policy period with appropriate retro date.
Exclusions
Fraud, dishonest acts or intentional wrongdoings.
Criminal fines and contractual penalties unless endorsed.
Bodily injury / property damage (these are usually under CGL) unless product causes physical harm and wording includes it.
Insurance Partners
We work with specialist professional lines underwriters experienced in E&O and technology errors.
FAQ's
In India the terms are often used interchangeably; labels vary by sector (E&O for tech/services, PI for professionals), but the cover intent is similar.
A claims-made policy responds if the claim is made during the policy period (not when the error occurred). Retroactive dates and run-off cover are important.
Absolutely for SaaS, fintech, consultancies - a single API bug or data error can trigger big client losses and suits.
Client contracts, correspondence, scope statements, bug reports, and incident logs - plus prompt notification to the insurer.
Not automatically. Some policies offer cyber-E&O combos for when errors cause data loss; pure cyber risks usually need a separate cyber policy.
Yes, policies can include multiple insureds, directors and named parties to avoid coverage gaps.
Customers Says..
Nisha Agarwal CTO, PayCart Labs
R. Menon Partner, Prima Accounting
