Errors & Omissions Insurance Or Professional Indemnity Insurance

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Errors & Omissions Insurance Features

Universally Accepted
Insurance recognized by investors, external agencies and international companies. Meets contractual requirements that you may have.
Comprehensive Cover
Cost of litigation for deficient services or negligence covered. Most occupations covered. The cover may be India-focused or worldwide. Current and past employees covered. Subsidiaries can also be covered.
Original Retroactive Date
Covers claims related to any event after the retroactive date. This is specified as the start date when the first Errors and Ommissions insurance was bought. Ensures that cases that come about several years after the incident also covered. The insurance in force when the claim is made covers the costs.
Legal support
Insurers will provide legal support to defend yourself. In a few cases they will take on the obligation of fighting your cause.

How to ensure claims are paid?

Ensure Retroactive Coverage

Claims pertaining to a period before the retroactive date are not covered. If there is a break in the renewal of the professional liability insurance then the retroactive date is reset to the start date of the new insurance. Ensure timely renewal and carry forward of retroactive coverage.

Declare Known Issues

Claims that come about from an issue that was known before the insurance was bought are rejected. Further it can make the policy void due to non-disclosure. This can be addressed by clearly describing any known issues when you buy your first professional indemnity cover.

Practice Lawfully

If the information in the proposal form is different from actual practice you run the risk of claim rejection. For example, you may state that you have trained nurses but may not; you may have used an OT that is not properly licensed; or not declared your specialty appropriately in the form.

Why SecureNow

Product Knowledge

We have specialized underwriters and tie-ups with international experts.


We work with all insurers to get you the best options- both in terms of price and features.

Quick Turnaround

Cover notes are issued within hours of request. This documentation is sufficient for any contractual requirement.

Strong Claim Support

We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.

Value Added

We will advice you on risk management best practices.

Policy Administration
System (PAM)

See all your contracts and renewal information in one place. Place service requests on PAM.


Errors and omissions insurance policy can be taken by IT companies, BPO, Telecommunication service providers, software development companies etc. It is particularly relevant for service providers who are working for US or European clients.
In the case of civil liabilities, making the claim settlement is a hassle free process. It is important to remember that only civil liabilities can be claimed under professional indemnity insurance policy and not criminal liabilities.
Yes, errors and omission insurance policy does provide cover for the settlement of law suits. The extent of settlement is determined by the type of the policy and sum insured.
The insurance that professionals such as doctors, lawyers and engineers obtained for liability incurred while performing their services is called as "Professional Indemnity", whereas insurance for liabilities encountered by companies such as real estate, telecommunication, software companies and BPO is called as "Errors and Omissions" Insurance. Both E&O and Professional Indemnity insurance is designed to protect the professional from financial loss arising from lawsuit related to professional negligence.
Any company that provides specialized services like design, advice, outsourcing or training can get sued due to professional negligence. Professional Indemnity insurance covers legal expenses to defend oneself and compensation awarded by the court.
In order to buy the best policy suiting your business needs, compare quotes online.
Examples of unintended breach are – deliverables are not as per the specification laid in the contract, material defect etc.
As soon as the insured get a written or documented warning or becomes aware of the problems within his or her business, the insured can prepare to lodge for a claim settlement.
Companies engaged in services should particularly consider Errors & Omissions Insurance. Chance of negligence during a professional service is high, and so is the risk of client to suffer major financial loss.
Yes, a professional liability insurance policy agrees to defend and pay on behalf of the professional for claims alleging an error or negligence in the performance of professional duties. Willful negligence is however excluded.

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