Error & Omissions - what's covered?

Error & Omission insurance protects business professional whose clients could claim damages as a result of business professional's faulty performance.

The faulty performance may be because of a negligent act, error or omission by the professional; hence, the name of the insurance.

Error & Omissions insurance protects the business professional by shielding his or her assets and paying for his or her defense if a client makes a claim. It protects the professional's client by ensuring that there will be adequate funds to pay for damages incurred if the professional's services are deemed to be faulty.

Error & Omission cover is offered to Ships Agents, Ship Brokers, Yacht Brokers, Ship Managers, Marine Surveryors/Consultants, Naval Architects and Hydrographic Surveyors.