Quick Claim
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Premium
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Paperwork
Newly created or acquired subsidiaries will be seamlessly incorporated into the policy, requiring only a minimal amount of additional paperwork. However, this inclusion is contingent upon the acquired company being not more than one-fourth the size of the company implementing the policy.
If an investigation or inquiry is conducted by a professional regulatory body, such as an industry association or government agency, this coverage indemnifies the loss incurred by the insured. It covers the costs of legal fees, settlements, fines, or judgments that may arise from such an investigation.
In case of errors and omissions, you might need to take steps to reduce or prevent further damage or loss. The policy can help cover the cost of repairs, replacements, and other expenses incurred in such cases.
Cover losses for attending court due to an E&O lawsuit, including lawyer's fees, travel expenses, and lost wages.
In case of a lawsuit alleging loss or destruction of important documents, this policy will cover the legal and claim charges.
If an employee makes an error while providing a service then ESO insurance covers resulting claims.
Protect your business from third-party claims resulting from frauds or dishonest acts conducted by your employees. E&O Insurance covers investigation costs, legal fees, and damages caused by their actions.
E&O Insurance safeguards you from the financial burden of legal representation expenses when facing lawsuits. Whether in court or negotiating with regulators, this coverage ensures you have the support you need,including the cost of settlements.
This insurance doesn't pay for any losses or damages if you purposely do something wrong or harmful. For example, if you lie about something important (that's called "intentional misrepresentation*), steal something (that's "theft", or cheat in some way (that's *fraud"), and these actions cause harm or loss, the insurance won't cover it. These are considered intentional or malicious acts, which means you did them on purpose knowing they could cause harm.
Claims related to breaches of fiduciary duty, mismanagement, or any other wrongful acts committed by your company’s directors and officers are not covered under this policy. It is recommended to consider a separate Directors & Officers (D&O) insurance policy to safeguard against such claims.
The policy does not extend to claims arising from bodily injury or illness sustained by an employee. To ensure protection against such claims, a dedicated Workers' Compensation insurance policy might be necessary.
ESO policy does not cover claims resulting from cyber risks, such as data breaches and cyber-attacks. This is covered separately when you purchase Cyber insurance.
Claims related to fines, penalties levied by a court or governmental agency, or arising from contractual breaches or negligence on part of the insured are not covered under this policy.
This policy does not provide coverage for any third-party bodily injury claims arising from alleged or actual negligence during the provision of your business services.
