ErrorsOmissionsDirect

Errors & Omissions direct is an online website design and developed to help individuals who fit into specific categories. They are currently P&C, Life and RIA (investment) agents who are looking for quality E&O insurance to protect them against claims. The vision of ErrorsandOmissionsDirect.com is to reach out to the many large cities throughout the US to help ensure that individuals have a tool to leverage the power of the internet to get the best possible E&O insurance.

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Taking Care Of People Requires E&O Insurance To Take Care Of Business has been published on Errors & Omissions Direct

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Taking Care Of People Requires E&O Insurance To Take Care Of Business

If you’re in the healthcare profession, you’ll need Errors & Omissions insurance to protect yourself in the event an unexpected lawsuit. It gives medical professionals and caregivers peace of mind and security when they are prepared in advance to handle any situation that may arise. Here are some of the most important aspects of this type of insurance that you should be aware of before making a purchase:

1. Know the Limits

In general, the limits on Errors & Omissions insurance is $10 million. This should be enough to handle most lawsuits that may arise. If you don’t think it’s enough, you should speak to your insurance agent to determine what your options may be to obtain higher coverage limits. They will know the laws and how to navigate them to ensure that you are protected within the limitations of the law.

2. Know Your State’s Laws

Every state has different requirements for coverage of medical professionals. This is why it’s important to know your state’s laws and how to remain in compliance with them. Again, asking your insurance agent is the best source for information. They have a lot of information that can be beneficial to medical professionals who may have questions about the coverage and state laws.

3. Recognize What’s Covered Under Your Policy

Not every error, omission, or mistake will be covered under your policy. You should confirm what will be covered when you’re performing professional services. Caregivers should be licensed and qualified to perform the services protected under the policy to ensure that an error, omission, or mistake will be covered. If you’re not licensed, your policy may be rendered void, and you will not be prepared for lawsuits or other financial hardships that may arise because of an error, omission, or mistake.

Buy E&O Insurance Online to Protect Your Livelihood

This type of insurance can protect against all types of disaster within your business and help you mitigate disaster. If you don’t have the money to pay, your insurance company will handle the expenses associated with disaster within your profession. It’s a good investment and should be one of your first purchases if you’re a caregiver or healthcare professional. If you want to learn more, contact an insurance professional for more information. Ordering an E&O insurance policy online may be one of the best ways to ensure that you’re covered in the event of disaster.

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E&O Insurance Online Details Unusual Needs For E&O Insurance has been published on Errors & Omissions Direct

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E&O Insurance Online Details Unusual Needs For E&O Insurance

Errors & Omissions Insurance is used to cover exceptions that may occur if information or services have been incorrectly provided from business professionals such as from an Investment/Retirement Advisor who is liable for the information that has been provided to clients. The professional could be liable for negligence and forced to compensate a client.

Reasons for E&O Insurance

E&O Insurance should be not used as a substitute for not providing high quality services. However, there could be problems because human beings are not infallible and may provide erroneous information or be liable for a calamity. The insurance offers business professionals an option for compensating clients who were accidentally victimized while also protecting business operations. Liability insurance is a tool for preventing the complete bankruptcy of a business.

Property and Casualty Insurance Providers

Insurance providers have underwriters who verify the legitimacy and appropriateness of insurance policies. An insurance provider is required to pay compensation for the loss of property, fees for the medical care of injured individuals and to compensate for the loss of the lives of individuals who were killed while on the job. A plant could accidentally explode because of hazardous chemicals in a sewer system. The policy may have no restrictions on the total amount of benefits. Therefore, the provider may be liable for huge amounts of benefits for explosions and accidents in coal mines.

Life Insurance Providers

Insurance providers are faced with the legal ramifications from the content in the policies. There could be errors in the policies or omitted information that would force the insurance provider to be liable for paying benefits that were not calculated as being possible by the underwriters. There could be several claims from the families of the passengers in a crashed airplane. One insurance company may have provided the travel insurance for every passenger, which could have overextended the liability of the insurance company.

Retirement and Investment Plan Advisors

Advisors are responsible for the information that is provided. However, some actions cannot be controlled if fraudulent activities are permitted in a workplace. The information for statistics may be erroneous and cause a calamity. An investment may be rated as secure and as a low-risk option while there was also hidden doubt about the investment. Some retirement plans pay a specified amount of benefits. However, the contributions could be less than the amount of paid benefits.

Benefits

The benefits from having an E & O Insurance plan include the possibility of safely doing business while also being prepared for unexpected outcomes. Most business professionals do plan for success. However, errors could place the most conscientious professional in a position of liability for victimizing other individuals. The convenience of E&O Insurance Online helps to reduce risks.

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Errors & Omissions High Points During The Year Need E&O Insurance has been published on Errors & Omissions Direct

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Errors & Omissions High Points During The Year Need E&O Insurance

If you are in the insurance business, you know how important it is to have coverage for the unexpected. After all, you have many clients who never expected to have to make a claim and got unlucky. Knowing the difference having the right insurance made for them, it should be easy for you to see why carrying errors & omissions insurance is crucial for your insurance business. We may be able to provide you with a better policy than the one your business is carrying now- and it could give you peace of mind.

The Value of E&O Whether they are a family or a business, nobody who maintains an insurance policy is ever sure that their insured event will happen to them. However, it is a fact that bad rolls of the statistical dice and factors outside individual control often dictate the outcomes of these events. It might not be anybody’s fault when a driver slips on black ice at night, but they will be very happy that they had insurance. The same logic applies to errors and omissions insurance. It does not matter how tight the business is run, how high the standards are, and how well-trained the sales department is. A client who is upset about their policy may resort to a lawsuit. The lawsuit may be entirely groundless and without merit, borne out of nothing more than the emotional pain of the moment. However, fighting such a lawsuit takes the work of a lawyer who is equipped to defuse the situation and defend your interests. This is not the fault of any individual, and nobody can truly be said to be in the wrong. But the legal fees that your business could face still exist no matter whose fault it is. E&O insurance can head that off in advance.

E&O Insurance Online It is fast and easy to get connected with a top errors and omissions insurance provider online. Your business might be required to carry such insurance. However, when was the last time you looked online for a competitive quote? Do you know the details of your policy and how well it meets your needs in comparison to other choices? Please visit our website to learn about building a relationship with us. Does your business need a strong errors and omissions policy? You already know the answer to that- it’s the same answer you give your own customers when they ask you if their policies are necessary. Yes, you need it.

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E&O Insurance Is A Shield Against A Busy Workload has been published on Errors & Omissions Direct

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E&O Insurance Is A Shield Against A Busy Workload

Various people, from Benjamin Franklin to Lucille Ball, have been credited with the adage, “If you want something done, give it to a busy person.” Regardless of its author, it is easy to appreciate the truth in this advice. If you are a successful financial planner, insurance agent, or adviser, you know that people turn to you because they have confidence you’ll get the job done.

While gaining the trust and confidence of customers and clients is the goal of every professional, this total acceptance of your advice and recommendations carries its own risks and challenges. The simple fact is that the busier you are, the more the probability of occasionally missing some minor detail or even a major issue in the work you complete. Very often, these oversights carry no real consequences. However, occasionally, you may encounter a situation where your error or omission creates a significant problem for your client, as well as a major contingent liability for you and your firm.

This is one of the many reasons professional firms turn to Errors & Omissions insurance to gain the peace of mind they need concerning such errors & omissions. While you work hard to provide your clients and customers with the very best service possible and don’t like any mistakes, you understand they simply come with the turf.

You can comfortably perform your role as a professional adviser when you know you have the security of this backstop of E&O insurance. If and when you need to use it, such protection can help prevent potentially catastrophic consequences. Moreover, it provides an additional layer of protection for your clients, ensuring you are able to cover any losses they incur due to your actual or presumed mistake.

As a professional you work hard to keep up with all the latest changes in laws, rules and regulations in your industry niche. However, missing just one change can result in unfortunate situations, and even this situation is covered with the right Errors & Omissions policy. Instead of worrying about those potential issues that arise even with your most diligent efforts, you can accommodate your busy workload when you know such problems won’t destroy your business if they do arise. There’s simply no valid reason to miss out on this powerful tool that protects you, your business, and your clients in many ways.

Today, you can find the coverage you need by securing E&O insurance online. You can learn more and gain the peace of mind you desire by clicking here and conveniently taking care of all your E&O insurance needs.

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Common Life Agent Mistakes E&O Insurance Can Cover has been published on Errors & Omissions Direct

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Common Life Agent Mistakes E&O Insurance Can Cover

Common Life Agent Errors and Omissions Insurance covers life insurance professionals and their companies in case they failed to provide a service, made a mistake in providing the service or the service did not have the expected results.

It is important for every agency to occasionally review these policies to make certain they and their clients are appropriately insured and covered for any eventuality.

Errors and Omissions Insurance for Life Agents

This insurance covers settlements, court judgments and costs of legal defense. It is important to remember that even if the agent was found not at fault, the costs of defense can still amount to thousand of dollars.

This professional insurance will cover costs which could easily bankrupt a small independent life insurance agency. In addition, if an error or omission caused a financial loss for a client, this insurance will cover that loss as well.

Specific Errors and Omissions Covered

There are specific types of errors and omissions that are covered:

Failure to Document – If an agent has failed to adequately communicate in writing with their client, the agent will be held liable in about 9 out of 10 cases.

Misrepresentation – Sometimes, agents are charged with inadequately or intentionally making errors in completing an application for insurance. Although not often found guilty, those who are found liable for intentional representation can not only be found liable in a civil court, but also guilty of criminal fraud. No policy will cover an insured in a case of intentional misrepresentation.

Standard of Care – In the case of life insurance, there are no specific standards of care as there is in medicine or law. The courts make decisions regarding appropriate standard of care rather than rules, laws or regulations.

Breach of Duty – Most courts will hold an agent responsible and guilty of breach of duty to fail to fulfill the contracted agreement without notifying the insured within a reasonable period of time.

Special Relationships – As a result of the actions of the agent and the relationship developed with the client over time, a special relationship is developed. Because of this relationship, the agent or broker is held to a higher standard of care in handling the insured’s business.

The next step for a life insurance agent or broker is to review their E&O needs and make certain their coverage meets those needs.

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Understanding Errors and Omissions Insurance Policies has been published on Errors & Omissions Direct

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Understanding Errors and Omissions Insurance Policies

Your intention is to assist your clients in purchasing the right kind and amount of property and casualty insurance or life and health insurance products. You may be a retirement investment advisor who is handling large sums of money for people. Although you do everything that you can to improve their financial situations, there is the chance that you may make mistakes and cause your clients to lose money. In these instances, they may decide to sue you in court.

When Errors and Omissions Lawsuits Occur

People initiate errors & omissions lawsuits because they are unhappy with your services in some way. For example, these lawsuits can result when a client was expecting something other than what was delivered. A client may believe that you breached the contract you signed with him or her. In other instances, your clients just do not understand how your business works and believe that you offered substandard care when engaging with them.

The Result of Failing to Purchase Errors and Omissions Insurance

In the event that your clients believe you did not provide them with your best care, they can sue you whether the claim is true or not. After you receive an errors & omissions complaint, you will be very glad that you purchased E&O insurance. Without this valuable coverage, you would be required to hire a lawyer and pay your legal bills on your own. This scenario has been so costly for some people that they had no other choice but to close their doors and cease practicing their professions.

After You Purchase E&O Insurance

There is no reason to concern yourself with the possibility of losing your livelihood if you purchase E&O insurance. With this coverage, your insurance company will hire an attorney who will fully investigate the claim and determine how to proceed. Your attorney may be able to have the case dismissed or offer the plaintiff a settlement. If settlement is the option, your E&O insurance will help cover this amount.

E&O Insurance with EOForLess.com

When you purchase your errors & omissions insurance from EOForLess.com, you will receive liability insurance in the amount of $1 million for each claim. You also receive $1 million liability coverage for every claim under each certificate of insurance and $10 million liability coverage for all claims under all certificates of insurance. You will obtain all of this coverage for very reasonable rates if you are found to be eligible for our policies.

Errors and omissions insurance is what helps people close their eyes at night and have a restful sleep, so purchase your policy today.

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The Fastest Way to Purchase E&O Insurance has been published on Errors & Omissions Direct

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The Fastest Way to Purchase E&O Insurance

When You Need E&O Insurance Fast

You are in the business of giving professional advice. Whether you are advising clients about their Retirement Investments, Property & Casualty Insurance, or Life and Health Insurance, you are busy. Sometimes your head is spinning what with all of your obligations. You’re trying to help people to protect themselves from potential disasters and have financial coverage that will see them through difficult times. It’s a full-time job that can be filled with stressful. You want to steer your clients in the right direction and give them your full attention. It means you don’t have much time to spare for E&O insurance. When you need to open an Errors & Omissions policy, you don’t want to waste a minute.

Buy E&O Insurance Online for a Quick Solution

In your line of work, Errors & Omissions insurance is a necessity. You can never predict when a client will not be satisfied with your work. A claim of negligence, directed at you or any of your staff members, could deal a major blow to your business. The same holds true of one of your clients claims you did not do your job. Legal suits mean hefty fees. With E&O insurance, you’ll be protected, provided with the means for any financial compensation, and legal services. There’s no doubt in your mind that Errors & Omissions insurance is a must. The problem is finding the time to open a policy. You don’t want to spend hours waiting on the phone, wading through all of your options. Choose E&O insurance online and you’ll be well on your way to peace of mind.

Get What You Need Online

Thanks to the Internet, you can have Errors & Omissions insurance within minutes. At the click of a button, you’ll be online, scoping out your options, scanning through all of the details. Fill out the online application and your policy will be in the works. Tailor your E&O policy to suit your business and cover your needs. You can be efficient and spare yourself frustration. When you are on the go, you will love how easy it is to buy E&O insurance online.

It’s All About Easy Solutions

When you need Errors & Omissions Insurance and you need it fast, heading to a website is your short cut. Quickly navigate the site and sign up. It’s quick and easy, giving you exactly what you need when you need it most. Make the most of every minute and rest assured that your Errors & Omissions policy is good to go.

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Why RIA Agents Need Errors & Omissions Insurance has been published on Errors & Omissions Direct

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Why RIA Agents Need Errors & Omissions Insurance

RIA agents need Errors & Omissions insurance. The fact is that one out of every seven RIA agents will be named in a lawsuit, and it doesn’t matter if the claim does not have any merit whatsoever. A client can still file a claim against you.

Why Do People Sue Their Financial Advisors?

People often sue their financial advisors after they lose significant amounts of money. This doesn’t just happen to those who have been less than forthcoming with the necessary information about a transaction or an investment. It happens even when advisors have done everything possible to inform their clients of the risks. Even so, these clients may hire a lawyer and sue you.

Lawsuits Can Be Expensive

Because you know that you cannot be assured that you will never be the victim of a lawsuit, you also know that Errors & Omissions insurance is a very useful purchase. The court may rule in your favor, but you will still have expensive legal bills to pay. There’s also the possibility that you may lose and will be ordered to pay a large sum of money to the plaintiff. Without an insurance policy to help you, you would be entirely responsible for paying this judgment.

The Consequences of Not Purchasing an E&O Insurance Policy

Small business owners who fail to purchase E&O insurance often find that they need to file for bankruptcy after facing a lawsuit. Sometimes, retirement investment advisors have to file for personal bankruptcy. Even large companies experience difficulties returning to business as usual after a court case. It can take years for these organizations to be profitable again after they lose a significant amount of money defending themselves in court and paying the plaintiff what was ordered.

What Is Errors & Omissions Insurance?

Errors & Omissions insurance is also known as “professional liability insurance,” and it protects you in the event that a client claims your professional advice caused financial losses. People covered under these policies include the retirement investment advisor and his or her partners and employees. Generally, these policies cover you when a client alleges that you failed to follow the current standards and procedures of your business.

As you can see, an E&O insurance policy will help you stay in business if a client ever sues you for malpractice. Order your policy online today so that you can ensure that your financial future remains on track.

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Don't Let Your E&O Insurance Policy Lapse has been published on Errors & Omissions Direct

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Don't Let Your E&O Insurance Policy Lapse

An E&O Lapse Could Mean Big Trouble

As a preferred-risk financial professional, you’re in the business of giving clients good advice. Whether you focus on Life and Health Insurance, Retirement Investments, or Property & Casualty Insurance, you’re helping people to manage their finances, protect themselves for the future, and find a way to weather any storm. However, there is always the possibility that something will go wrong. You could drop the ball. Someone in your office might give bad advice or have the wrong information. You could be dealing with someone who has become disgruntled by the hand that life has dealt them. That’s when claims of negligence become a distinct possibility. You could also have a client who claims you didn’t do your job. When such claims arise, there may be no truth to them whatsoever, but legal fees are going to be the end result. In the event that a claim is justified, there’s going to be a settlement to deal with. You could be facing a hefty amount of compensation. If your Errors & Omissions insurance policy has lapsed, you will be forced to make restitution on your own. The expenses could send you straight to bankruptcy.

Keep Your E&O Policy Up to Date

You may have been in business for a long time and never had a claim. You pride yourself on doing your job and doing it well. You take great care with hiring knowledgeable, professional staff members, and train them well. Don’t have a false sense of security about Errors & Omissions insurance. Just because you’ve had smooth sailing doesn’t mean that will hold true for the future. Opening that E& O policy is a way to protect yourself in the same way that you attempt to protect your clients. Make sure you keep your policy in effect, giving yourself a financial cushion in the event that a claim comes your way.

You Can Never be Too Prepared

If you are ever accused of failure to perform your duties or negligence, a claim can lead to astronomical expenses. Between legal fees and settlements, you could be looking at a considerable bill. Make an investment in your financial security by opening an e&o policy and maintaining it. Be vigilant and don’t let it lapse. It could be the best decision you ever made. Most importantly of all, it will give you peace of mind. That monthly payment is well worth every penny in the event that you are facing a much larger expense brought on by a claim. With a solid Errors & Omissions policy, you can breathe easier.

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Why Errors and Omissions Is Important For Financial Agents has been published on Errors & Omissions Direct

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Why Errors and Omissions Is Important For Financial Agents

Errors and omissions coverage is vital to protect financial agents from the vagaries of the marketplace as well as misconceptions between agents and clients. The coverage protects licensed agents and general agents from legal liabilities that may arise from the sale, attempted sale, or servicing of the following types of financial products:

Life insurance, accident and health insurance, or managed health care contracts that do not require a securities license Indexed or fixed annuities Medicare Advantage or Medicare Supplemental Insurance Financial planning activities

It is understood that a large portion of the risk for financial agents as well as insurance agents is the possibility of lawsuits resulting from misconceptions that individuals have when money is lost. Errors and omissions coverage will protect agents from the cost of defense through attorneys and costs involved and will pay resulting levies as long as no criminal activity or fraud is involved on the part of the insured. One lawsuit, whether for a founded reason or out of the blue, can wipe out your operating capital for several years.

This type of coverage can also apply to the actions of your non-commissioned employees. A missed message or typographical error can cause problems with a client’s instructions. Poor follow-up on instructions is problematic in any office, no matter how professionally run.

Without errors and omissions coverage, it is necessary to rigidly examine every action that occurs in your office and keep undue control of your office staff. Furthermore, if you are a Type A personality, sleeping at night can be problematical without adequate errors and omissions insurance.

One of the advantages of errors and omissions coverage is the possibility that you as a partner of the firm should unexpectedly die. Your partners and family, as heirs, will need protection under the policy. A ‘tail’ coverage to provide for the settling of business is available for purchase in this situation.

Consult with your insurance agent to purchase this type of coverage to protect your business and the individuals that depend upon it from all-too-common lawsuits and judgments that may occur. This type of coverage is less expensive than you may have considered. The sooner you purchase the insurance as your firm is beginning, the less expensive the premiums are. Continuous coverage is advantageous because the protection afforded may be retroactive in your business.

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How E&O Insurance Can Save Your Business has been published on Errors & Omissions Direct

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How E&O Insurance Can Save Your Business

When in the insurance selling or advice-giving business, one soon discovers the importance of covering him or her self against frivolous lawsuits that could arise in the course of performing one’s daily duties. The best of brokers can end up broke if they have not had the foresight to guard themselves against the inevitable legal challenges that only E&O (Errors and Omissions) insurance can protect against.

Like a wall around a prosperous city, E&O gives you peace of mind in the face of the constant possibility that even the most well-trained professionals might be blamed for allegedly erroneous or missing data in an insurance policy, retirement agreement, or investment contract. Even the most skilled can make minor mistakes or forget to mention small details on occasion, and even when no such mistake has occurred, the mere allegation of its occurrence could cost your business thousands or millions of dollars.

Someone has to insure the insurers, protect the retirement prospects of retirement plan brokers, and ensure that investment advisers have some investment capital to work with so they can lead by example in the investment strategies they recommend. All of this falls to the ground if court cases suck dry the resources of such professionals and prevent them from making a reasonable profit or even staying afloat in the business world.

Many forms of this kind of coverage will include court expenses. If these legal costs are not guarded against, anyone can simply make an arbitrary accusation and force you to spend big just to prove your innocence. After you have won the case, you may find you have lost your business through the monetary attrition that legal scuffle thrust upon you. To say the least, that would be ironic and unjust.

We can provide for you a great selection of insurance policies to defend you from the above scenario and potentially to save your business. You can buy E&O insurance online from us with very little of your valuable time being spent. We can offer you great rates on quality protection that you will be thankful to have when sooner or later you face that inevitable complaint. Advice and consultation, insurance and retirement policies, etc. involve a lot of risk to the one who is offering their expertise or explaining the benefits of the package since we live in the midst of a litigation lottery these days. Contact us today, and we can offer you E&O that is a “safe bet.”

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Why Purchase E&O Insurance Online? has been published on Errors & Omissions Direct

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Why Purchase E&O Insurance Online?

Because Time is Money

As a preferred-risk financial professional, you hardly have two minutes to breathe. You’re bombarded with calls, consultations, and meetings with clients from the beginning of your day until the end. When you deal with Property and Casualty Insurance, Retirement Investments, or Life and Health Insurance, people are turning to you for advice as they deal with challenging times in their lives. You don’t have any time to waste. That’s when you need to buy E&O Insurance Online to make your life easier.

Save Yourself the Hassles

You know that E&O Insurance is a must. In your line of work, there is always the possibility that someone is not going to be happy with the end results of an insurance claim. Whether a client claims that you didn’t offer sound advice or someone in your office was negligent, there could be a legal suit. With E&O Insurance, you will have a buffer that protects you when it comes to legal fees and any payments in compensation. That protection can keep you in business. You don’t have any doubts about having E&O Insurance. You simply don’t have a minute to waste. Buy E&O Insurance Online and get back to business.

Buy E&O Insurance Online to Stay on Task

With the option to buy E&O Insurance Online, you’re opting for convenience and efficiency. If you have access to the Internet, you’re well on your way to opening a policy that will work for you. Pay for E&O Insurance and you’re buying peace of mind. Get online during your lunch break, when you have a few minutes to spare, or in the evening at home. Browse through your options, fill out the online form, and you’re good to go.

E&O Insurance at the Click of a Button

When you buy E&O Insurance Online, you don’t have to wait on hold for a customer service representative or spend your precious time talking about all of your options. At the touch of a button, you can do it all yourself. Your choices are laid out for you, everything is explained clearly, and you can open your policy online. In a matter of minutes, you’ll have the valuable E&O Insurance protection you need. You’ll be covered for the future in no time at all. When you’re looking for a simple solution, E&O Insurance online is the way to go.

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Estimated Costs Of Not Having Errors and Omissions Insurance has been published on Errors & Omissions Direct

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Estimated Costs Of Not Having Errors and Omissions Insurance

E&O (Errors & Omissions) Insurance is a basic tool that protects many small businesses from bearing the full impact of often-frivolous lawsuits that are brought against them for allegedly causing financial loss to their clients. Insurance brokers, retirement plan providers, and investment firm advisers do well to protect themselves against the claims that inevitably will arise. The tiniest typo or verbal slip, the most inconsequential omission, or the mere accusation (however false) that bad advice was given can lead to a trip to the court room. In many cases, the client simply misunderstood, or the charge is completely baseless- but such factors do not seem to matter many times in our sue-happy society.

A 2008 study found that $105 billion of court costs were paid by America’s small businesses that year, with $35 billion being out-of-pocket expenses. Some good liability insurance, E&O in the case of salesmen and advisers, could have cut down significantly on those numbers. 70% of businesses have to raise their prices, cut back on hiring, or even let some employees go when they suffer a lawsuit.

When you buy E&O Insurance, you are simply doing in your own business sector what doctors and lawyers do when they purchase malpractice insurance. You are taking care of ahead of time the court fees, attorney’s fees, expert witness costs, settlement costs, etc. that may arise if and when some disgruntled individual decides to sue you. You cannot control the actions of that other person, but you can put up a protective barrier to shield yourself from most of the expenses and prevent having to change your business plans due to a frivolous lawsuit.

Many E&O policies will cover you up to a million dollars per case and/or per year, depending on the level of coverage you choose to purchase. Whether the case is dismissed, you win, you lose, or an out-of-court settlement is agreed upon, covering yourself with E&O can save you more than it costs and is an essential part of a sound business strategy.

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Bad Things That Can Happen Without E&O Insurance has been published on Errors & Omissions Direct

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Bad Things That Can Happen Without E&O Insurance

When you’re dealing in the business of Property and Casualty Insurance, Life and Health Insurance, or as a Retirement Investment Advisor, a lot is on the line. You are dealing with the financial security of your clients. They are depending on their policies to carry them through periods of crisis on their lives. These types of insurance are meant to provide security for the future. However, there is always the possibility that something can go wrong. If you are not prepared for the worst, you could find your business on shaky ground. Without Errors & Omissions insurance, bad things can happen.

You Need E&O to Cover Your Own Interests You deal in a type of business where you are a preferred-risk financial professional. In essence, you give advice for a living as you handle the assets of your clients. Your services are intended to help your clients to protect themselves in the event that misfortune strikes in the future. However, there is always the chance that you may steer a client in the wrong direction or your client may simply be dissatisfied with his or her personal experience. This is the point when claims may be filed against you or your staff members. If you aren’t prepared with a safety net of Errors & Omissions insurance, you could be in hot water.

The Blame Could Be Heaped on Your Shoulders In your line of work, there is always the chance that someone is going to file a claim, accusing you of negligence or failure to do your job. Whether you are personally targeted or such accusations are made about one of your employees, it can mean a long, legal battle ahead with crushing expenses. Without E&O insurance, you can find yourself sinking in a sea of debt. Between settlement costs and legal fees, you might not be able to keep your head above water. Without Errors & Omissions, you could be dealt a terrible blow. Get the coverage you need and you can move forward with confidence.

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How Can Your Business Benefit from E&O? has been published on Errors & Omissions Direct

New Post has been published on http://errorsomissionsdirect.com/2014/11/can-business-benefit-eo/

How Can Your Business Benefit from E&O?

Maybe you have heard about Errors and Omissions Insurance before, but are not sure if it is something that you really need. Maybe you do know that you need it, but just have not really thought about why. Regardless of where you are in your knowledge of E&O, it is important to know how can greatly benefit your business.

E&O Insurance is more than just another insurance policy, and EO for Less wants to ensure that as a responsible businessperson, you are covered in case the unthinkable happens. Imagine that things are going great, business is trucking right along, and then word comes that you are being held responsible for something that could destroy the company or your personal career. Whether the cause was an innocent mistake or due to a dishonest employee (or employer!), E&O has you covered.

Covering the Company

Even with the most stringent risk management practices and the most careful employees, mistakes do happen. Those mistakes can ruin the reputation of an entire business, no matter who made the error. Say that you or another employee made a mistake in entering a client’s information and this resulted in serious problems down the road. Would you want that client to take the whole business down for one person’s simple mistake? Likely not, and so E&O would be a very valuable thing to have. Or, let’s say you are a responsible employee but your boss operates in a very gray area in his personal business. Do you want to be held liable for his transgressions? Again, likely not. E&O can protect in that instance, as well.

Covering the Individual

You do not have to be part of a large firm to take advantage of the benefits of E&O coverage. If you are in business for yourself, having insurance to guard against client claims of error would greatly benefit you. It only takes one mistake to end a career and ruin a reputation.

When and Where to Purchase E&O Insurance

It is best to have coverage in place before the risk of error is even a factor. Running a business from day one with protection for everyone in the company is the best way to ensure that you are safe against claims. EO for Less can help you get a quote and purchase insurance in little time. How is this possible? At www.eoforless.com, we specialize in professionals with low risk profiles, who are members of the National Ethics Association. The cleaner your record, the easier it is for us to get you a policy quickly. As an added bonus, we can offer you a discounted rate which is less than that of your higher-risk competitors. Your premium is commensurate with your risk profile. Simple and straightforward.

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Protecting Yourself From Miscommunication With Errors and Omissions has been published on Errors & Omissions Direct

New Post has been published on http://errorsomissionsdirect.com/2014/11/protecting-miscommunication-errors-omissions/

Protecting Yourself From Miscommunication With Errors and Omissions

Operating a business and offering professional services in a litigious society may seem like a gamble, but Errors & Omissions (E&O) Insurance products are available to protect savvy entrepreneurs from frivolous lawsuits. Registered representatives must work very hard to pass industry licensing exams after they complete the necessary schooling to earn a degree. Despite their best efforts at transparent communication, there is a possibility of misunderstanding when a certified professional conducts business with clients. These inadvertent errors or omissions in verbal or written communication could result in accusations and damage to the reputation of an industry professional.

Peace Of Mind For Professionals There are many viable options for professionals who want to buy E&O Insurance online or in person through an independent dealer. With a few key pieces of information, service professionals will soon discover the ease with which they can select a policy with all necessary features and quickly buy E&O Insurance online. Having all the available options together in one place allows registered representatives in the insurance and financial industries the convenience of purchasing adequate insurance. Every business owner has something at stake with each transaction. Knowing that their business, property, and career are sufficiently protected helps any insurance agent or investment advisor rest easy.

Product Selection Industry executives are well versed in the products they need to protect themselves from errors & omissions. A menu of options is available to assist with claim avoidance and general coverage against the potential miscommunication that is present within virtually any business relationship. Depending on the type of business and number of clients served, a registered representative may prefer to expand their coverage allowances as their business grows and the needs change. In addition, partnerships and offices that employ multiple representatives may wish to purchase a combination plan or at least all buy E&O insurance from the same vendor. For new representatives or individuals who wish to grow their business quickly, knowledgeable agents are available to discuss in detail the full line of products and services.

Purchasing Online Dealing with excessive amounts of paperwork is a hassle that most insurance agents and office managers are intimately familiar with on a daily basis. Although many frequently used forms are formatted on a basic template that can be transferred quickly into a new document for each client, the sheer volume of data viewed every day can be overwhelming. When it comes to purchasing anything for themselves or their businesses, health and life insurance agents want something that is simple and easy to use. Property and casualty insurance providers and financial advisors typically run into the same concerns when they are searching for business insurance, so prefer to buy E&O insurance online. There is no long waiting period, no lengthy conversations, and no hassle or pressure to purchase additional items or products when making an online selection.

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What Exactly is E&O Insurance? has been published on Errors & Omissions Direct

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What Exactly is E&O Insurance?

E & O Insurance, or Errors and Omissions Insurance, can protect you from financial loss arising from your error or omission. Because these negligent acts can occur at any time and can result in significant financial losses both for you and your clients, E & O Insurance is an intelligent investment.

Who can benefit most from E & O Insurance?

E & O Insurance benefits people who provide direct financial services to clients.

Financial professionals are ever cognizant of the risks involved with their profession, but sometimes their clients are not as aware. As a result, certain clients are likely to bring lawsuits against the very people who they went to for advice when financial mishaps occur or when plans do not live up to their potential.

While professionals can fight these cases in court, these fights will likely be time-consuming, expensive, and stressful. These court cases also take away time from a professional’s first priority, which is to service clients.

E & O Insurance can help professionals deal efficiently with claims and lawsuits, in addition to helping cover any court fees. This allows professionals to work with a peace of mind knowing that they will be personally and professionally protected in any situation.

What do typical policies cover?

Typical E & O Insurance policies include individual per individual claim benefits in addition to annual aggregate coverage. Individual claims are capped at a specific amount, such as $1 million, for a particular incident. In contrast, annual aggregate coverage protects policy holders from lawsuits over the course of a year. Typically, this amount is $2 million, though this amount can be increased for individuals with higher assets or risk profiles.

Policies usually cover more than just the individual who purchased the policy, as many financial professionals have a small staff that supports their business. As such, high quality policies cover negligent acts performed by employees who provide direct services to clients.

Finally, most policies offer coverage even after you retire, when you find yourself at a stage in life in which you are particularly vulnerable to financial threats. Because the effects of your business practices will continue to be felt by your clients for many years after you’ve closed your business, it’s important to choose a policy that has adequate post-retirement claims coverage.

If you’re interested in learning more about E & O Insurance, contact us for more information about policies that can be specifically tailored to your business.