Who Can Errors And Omissions Insurance Protect?

E&O is bought by hundreds of professionals in Ontario

Those that happen to run a business in Ontario will want to consider investing in E&O, or errors and omissions, insurance sooner rather than later. This type of insurance is specifically designed for professionals that could be sued due to their negligence. Those in a few specific lines of work will need the insurance more than others. To determine whether or not you should obtain E&O insurance, you should examine the information below or read more at the Insurance Journal website.

who needs liability insurance e&o

What It Does

First and foremost, you should familiarize yourself with the concept of errors and omissions insurance. It is a type of insurance, which is capable of protecting your clients from your mistakes. If you happen to make a mistake, the client could lose out financially. Believe it or not, a mistake that leads to financial losses can occur in almost any profession. When the mistake is made, the client will immediately seek repercussions and this could lead to a lawsuit. The errors and omissions insurance Ontario will protect your interest and help to ensure you do not have to pay out of pocket for your negligence.


Brokers work with large quantities of money and they’re responsible for making the right moves to ensure the client makes money. There are plenty of stock brokers in Ontario and all of them need E&O insurance. The client may decide that the broker could’ve done more to invest their money more profitably. This could lead to a dispute and even a lawsuit. If it is found that the broker was negligent, the E&O insurance will protect them, while paying for the client’s loss.


Property appraisers are responsible for determine how much a specific piece of property is worth. This could include a house or even an antique. The client always wants to ensure that the appraiser’s estimate is right on the money, so they can earn as much as possible from the transaction. Unfortunately, appraisers aren’t perfect and mistakes can happen. This is where E&O insurance will enter the picture. The insurance will protect them from claims, while simultaneously helping to ensure the client is repaid for any losses they sustain.


Accountants are required to manage their client’s books. They work with digits day in and day out. Over time, those digits can begin to blur together and this could lead to mistakes on the accountant’s behalf. Even the most cautious accountant in the industry can make a mistake at some point or another. This is why every accountant in the Ontario, Canada area needs errors and omissions insurance. If you do not want to pay out of pocket for mistakes, you’ll want to acquire this insurance and protect your business.

different types of professionals


It is fairly obvious why some professions need this form insurance. Others have reasons, which are not so obvious. The truth of the matter is that you do not need to work directly with money to be responsible for a client’s financial loss. Engineers can make mistakes that could cause their clients millions, if not billions, of dollars. Therefore, all engineers need to protect themselves with this insurance! Failing to do so could result in your business being forced into bankruptcy.


Attorneys are responsible for helping settle disputes in the courtroom. And of course, it is always in their best interest to win for their client. Winning in the courtroom could allow the attorney and their client to bring home a handsome sum. Of course, this is often easier said than done. The attorney could overlook a key piece of evidence or historical caselaw that could cause their client to lose big. This will result in the client lashing out at their attorney and attempting to recuperate their losses. As an attorney, obtaining E&O insurance is truly a no-brainer and a necessity.

Home Inspectors

It should also be known that home inspectors need errors and omissions insurance. These individuals are required to carefully and thoroughly inspect a property in hopes of identifying all potential problems. The home inspector is there to protect the homebuyer, while allowing them to know precisely what they’re buying well in advance. Should the housing inspector overlook a key problem, it could wind up costing the client thousands of dollars. The client will definitely feel the need to sue the inspector to reobtain their losses. Therefore, E&O will prove to be incredibly beneficial.

Website Developers

As technology has entered the forefront of modern business, E&O insurance has been forced to evolve. Today, website developers also need to obtain an E&O insurance policy. While the reasons might not be so obvious, they’re plentiful. The website developer is often required to ensure the client’s site is safe and working up to par. Should something go awry and the website crash or become breached by a hacker, the client will most likely blame the website developer. And of course, the client will lose money for the duration that the website is offline. A hack could result in reputation damage as well.

This combination could result in hefty losses. This is why it is absolutely pertinent for these individuals to obtain E&O insurance. Failing to do so could put their business in risk! It is also possible for these professionals to run into copyright issues. This is yet another reason to make the investment as soon as possible.

Quality Control Experts

Quality control experts are required to carefully watch a company’s goods to ensure nothing has gone wrong and that the product is up to the company’s standard. Of course, problems can still arise. Recalls happen all the time, despite the quality control specialist carefully watching the assembly line. These individuals could very well be held liable for a major recall. Their employer may blame them for their losses and this is where E&O insurance will enter the picture. The insurance will protect the expert, while also ensuring they do not have to pay out of pocket for the losses.

Advertising Agencies

Advertising agencies have a big job trying to fulfill the wishes of a client. With all the major advertising sources available, it is truly difficult to find a reputable agency. With this said, it is even more difficult to come up with a unique advertisement slogan. There will always the risk of copyright infringement and this does not necessarily mean that the agency knew about the infringement, before the campaign was launched. If this occurs, the complainant will potentially sue the business and in turn, the business will need to file a claim against the agency’s errors and omissions insurance policy. This is a negligent act that sometimes cannot be avoided, but the agency may pay restitution, because it failed to perform its professional duties.