Errors & Omissions Insurance

E&O Insurance Services

 

Protection is afforded for a myriad of different industries, from Realtors, Attorneys to Architects and other white collar businesses. Policies insure against losses resulting from an error or omission towards 3rd parties that is not intentional. A few classic examples:

A realtor sells a home, listing it at a certain sq. footage. The buyer sells the home at a later date finding out the sq. footage is incorrect, thus the home value is worth less. An Architect designs a home and gives them a blue print. It is constructed and the 2nd protruding floor falls due to poor design. In both cases, the mistake or errors were unintentional, but could cost the insured tens of thousands, or more, in damages; especially if someone is hurt. These contracts are based on Claims Made policies, with limits from $1,000,000 up to $10,000,000, is so desired.  Contact your Millward sales representative for more specific information.