Professional Indemnity Insurance (E&O Insurance)
Protect the company from client disputes efficiently
Trusted by:
Policy Covers:
- Legal defense costs for professional negligence claims.
- Contractual requirements.
- Breach of contract, including missed deadlines and unmet service terms.
Pay ₹10,000* per yearand get 25 Lacs coverage
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and Privacy Policy.
Trusted by:
Policy Covers:
- Legal defense costs for professional negligence claims.
- Contractual requirements.
- Breach of contract, including missed deadlines and unmet service terms.
What is Professional Indemnity Insurance?
Professional Indemnity Insurance also known as Errors and Omissions Insurance is your shield against potential legal claims that may arise from the professional services you provide. This coverage includes the costs of defending against negligence claims brought by clients and any damages awarded in such civil lawsuits.
Who needs Professional Indemnity Insurance cover?
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹50 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹50 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹50 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹50 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹50 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹50 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Why do you need Professional Indemnity Insurance?
Why do you need Professional Indemnity Insurance?
Claims from Clients
E&O Insurance safeguards against financial losses due to errors, software bugs, or omissions, ensuring continuity and protecting your business from claims that may arise.
Legal Defense
Covers legal costs for defending the business in court, relieving financial burdens amid lawsuits for smooth operations.
Professional Services Coverage
Protect your company from claims related to errors or delays in professional services with E&O insurance, ensuring clients receive financial compensation for any harm caused.
Contractual Requirement
To ensure protection from errors and missed deadlines, clients frequently look for E&O insurance coverage as a requirement in their contracts.
Maintaining Professional Reputation
E&O Insurance safeguards your professional reputation by covering the costs of defending against unfounded claims, protecting your credibility in the industry.
Why choose BimaKavach to protect your business?
The Power of Underwriting
Your Policy is built for your unique needs.
Best Price for Complete Coverages
You get the best price for your coverage.
24*7
Claims Support
All concerns will be addressed without delay.
Online Platform to Manage Your Bima
Your policy can be managed from anywhere.
Dedicated
Bima Expert
You get access to IRDAI-Certified Bima Experts.
Who’s this for?
What does Professional Indemnity Insurance cover and exclude?
Coverages
Court Attendance Fees
Cover losses for attending court due to an E&O lawsuit, including lawyer's fees, travel expenses, and lost wage
Error in Service
If an employee makes an error while providing a service, then E&O insurance covers the resulting claims.
Loss of Documents
In case of a lawsuit alleging loss or destruction of important documents, this policy will cover the legal and claim charges.
Employee Dishonesty
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.
Automatic Subsidiary Coverage
New or acquired subsidiaries will be seamlessly incorporated into the policy with minimal paperwork, provided the acquired company is no more than one-fourth the size of the implementing company.
Mitigation Costs
In case of errors and omissions, you might need to take steps to reduce or prevent further damage or loss. The policy covers costs for repairs, replacements, and related expenses.
Legal Representation Costs
This Insurance protects you from the financial burden of legal expenses in lawsuits. It ensures support during court cases or regulatory negotiations, covering legal fees and settlement costs.
Undelivered services
E&O Insurance protects against claims arising from not delivering services as agreed in the contract. For example, if a software firm fails to deliver a project on time for clients as promised in the contract.
Infringement
It also protects against inadvertent breaches of written contracts, such as violations of intellectual property rights, original creations, brand identity, or copying others' work.
Exclusions
Malicious Acts & Intentional Wrongdoing
This insurance doesn't cover losses from intentional wrongdoing like lying (misrepresentation), stealing (theft), or cheating (fraud). These acts are considered intentional or malicious, knowing they could cause harm.
Directors & Officers (D&O) Claims
Errors and Omissions Insurance does not cover claims for breaches of fiduciary duty, mismanagement, or other wrongful acts by your company's directors and officers.
Employee Illness or Injury
Errors and Omissions Insurance policy does not cover claims for employee bodily injury or illness. You may need a Workers' Compensation insurance policy to ensure protection against these types of claims.
Cyber Threats
Errors and Omissions Insurance doesn't cover claims from cyber risks like data breaches and cyber-attacks. This is covered separately when you purchase Cyber insurance.
Fines & Contractual Penalties
This policy does not cover claims for fines, penalties from courts or government agencies, or losses due to breaches of contracts or negligence by the insured.
Bodily Injury to Third Parties
Errors and Omissions Insurance policy does not cover claims for bodily injury by third parties due to alleged or actual negligence while providing your business services.
Court Attendance Fees
Cover losses for attending court due to an E&O lawsuit, including lawyer's fees, travel expenses, and lost wage
Error in Service
If an employee makes an error while providing a service, then E&O insurance covers the resulting claims.
Loss of Documents
In case of a lawsuit alleging loss or destruction of important documents, this policy will cover the legal and claim charges.
Employee Dishonesty
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.
Automatic Subsidiary Coverage
New or acquired subsidiaries will be seamlessly incorporated into the policy with minimal paperwork, provided the acquired company is no more than one-fourth the size of the implementing company.
Mitigation Costs
In case of errors and omissions, you might need to take steps to reduce or prevent further damage or loss. The policy covers costs for repairs, replacements, and related expenses.
Legal Representation Costs
This Insurance protects you from the financial burden of legal expenses in lawsuits. It ensures support during court cases or regulatory negotiations, covering legal fees and settlement costs.
Undelivered services
E&O Insurance protects against claims arising from not delivering services as agreed in the contract. For example, if a software firm fails to deliver a project on time for clients as promised in the contract.
Infringement
It also protects against inadvertent breaches of written contracts, such as violations of intellectual property rights, original creations, brand identity, or copying others' work.
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When can I Claim?
A claim under Professional Indemnity Insurance can be registered in the below circumstances:
- If a client files a lawsuit that your professional services were performed negligently
- Failure to meet the terms of a contract, causing them financial harm
- If a client alleges that you misrepresented your services or provided false information
- Lawsuits related to your professional services
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