Why do Insurance Agents Need Errors & Omissions Insurance?


As an insurance agent, you spend a lot of time trying to help people get the coverage they might need in case something unexpected happens. You wouldn’t want your clients to be left high and dry in an unfortunate situation, and you should have the same approach for yourself. Errors & omissions insurance for insurance agents is needed when you are dealing directly with customers and insurance coverage because people count on your expertise, but the reality is that mistakes can happen.


People Count on Your Expertise


In insurance, clients count on your expertise and expect that no mistakes will be made. To err is human, however, and sometimes mistakes can be made. Other times, no mistakes are made, but a client might still feel they have been wronged or financially harmed from your services. In either case, E&O insurance can help cover the legal costs involved with being sued.


Protecting Yourself While Helping Others


It can be very satisfying to provide insurance coverage to people who really need it. Still, error or no, things can go wrong and even an insurance agent can find him or herself in the middle of a legal battle. Errors & omissions insurance for insurance agents helps to cover these costs whether or not the error was yours. If you are in the business of providing insurance to others, consider the benefits of properly insuring yourself as well.

This post was written by , posted on June 20, 2014 Friday at 12:30 pm