Call Us 816-503-6222 ☰ ˟
Client Portal Request A Quote
Logo
816-503-6222
  • Home
  • Our Agency
    • AboutImage of right arrow
      • Our Locations
    • Commercial ProductsImage of right arrow
      • Coverage for Specific Industries
      • Coverage for Your Business
    • Personal ProductsImage of right arrow
      • Automobile
      • Homeowners
      • Other Personal
      • Farm
      • Life
    • Community Involvement
    • Risk Management Services
    • Claims Services
    • Get a Quote
    • Client Portal
    • Insurance Providers
    • Contact Us
  • Products
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Alarm Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Insurance for Arborists - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Bar Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Box Truck Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Builders Risk Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Cargo Insurance and Freight Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Catering Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Cleaning Business Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Construction Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Consulting Firm Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Specialty Trade Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Craft Brewery Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Dental Practice Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Dump Truck Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Educational Facility Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Financial Institution Insurance
      • Fleet Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Garage Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Healthcare Facility Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Healthcare Practice Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Law Firm Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Life Science Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Limousine Services Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Liquor Liability Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Livestock Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Maintenance Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Manufacturing Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Maritime Employers Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Media & Advertising Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Medical Malpractice Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Minibus Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Non Profit Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Nursing Home Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Nursing Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Orthotics & Prosthetics Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Pharmacist Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Pool & Spa Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Printers & Publishers Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Railroad Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Real Estate Businesses Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Restaurant Insurance - Kansas City MO/Denver CO - Walnut Risk Management, LLC
      • Retail Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • School Bus Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Scrap Metal Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Security Guards Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Self-Storage Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Septic Contractors Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Snow Plow Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Specialized Truck Equipment Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Staffing Practice
      • Technology Services Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Tow Trucks Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Tractor Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Water Well Drillers Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Veterinary Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
    • Coverage for Your BusinessImage of right arrow
      • Surety & Fidelity Bonds - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Business Catastrophe Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Business Owners Policy (BOP) - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Commercial Auto Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Commercial General Liability - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Commercial Property Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Commercial Real Estate Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Commercial Umbrella Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Crime Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Equipment Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Errors and Omissions Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Fidelity Bonds - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Loss Control Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Inland Marine Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Marine Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Mechanical Breakdown Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Office Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Product Liability Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Professional Liability Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Small Business Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Small Business Liability Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Storage Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Surety Bonds - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Technology Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Trailer Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Transportation Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Trucking Insurance and Semi Truck Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Workers Compensation - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Van Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
    • AutomobileImage of right arrow
      • Auto Liability Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Comprehensive Auto Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Auto Collision Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Uninsured/Underinsured Motorist Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Diminishing/Vanishing Deductible - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Accident Forgiveness - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Minor Violation Forgiveness - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Roadside Assistance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Specialty Auto Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • 24-Hour Customer Service - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Towing Services & Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Rental Reimbursement - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Personal Injury Protection (PIP) - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Medical Payments Coverage - Kansas City MO & Denver CO - Walnut Risk Management, LLC
    • HomeownersImage of right arrow
      • Property Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Homeowners Liability - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Renters Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Condo Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Mobile Home Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Scheduled Property Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Landlords Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • In-Home Business Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
    • Other PersonalImage of right arrow
      • In-Home Business Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Identity Theft Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Data Backup Services - Kansas City MO & Denver CO - Walnut Risk Management, LLC
    • FarmImage of right arrow
      • Crop Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Owners Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Equipment Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Dwelling Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Livestock Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Equine Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Structures Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Auto Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Umbrella Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Farm Liability Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
    • LifeImage of right arrow
      • Individual Life Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Group Life Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Long-Term Care Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Disability Income Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Second-to-Die Policy - Kansas City MO & Denver CO - Walnut Risk Management, LLC
      • Key Person (Key Men) Insurance - Kansas City MO & Denver CO - Walnut Risk Management, LLC
  • Get a Quote
  • Contact Us
  • Location & Hours
Auto Icon Home Icon Business Icon Life Icon Health Icon Boat Icon

Errors and Omissions Insurance

Errors and omissions refer to mistakes, negligence, or discrepancies in a business’s accounting records, which can possibly be interpreted as fraud and lead to legal action. Business owners and executives have several legal and financial responsibilities that accompany their roles, and if they fail to fulfill these responsibilities by inaccurately reporting income, errors and omissions insurance will reimburse a business for problems arising from these fiduciary oversights.

As a business owner, you know how important it is to live up to your promises. Consumer trust is a key part of earning repeat business, which in turn helps to create a stronger, healthier, and more profitable company.

Errors and omissions claims have been trending higher in recent years, with multiple‑million dollar lawsuits being filed more frequently than ever before. Accordingly, most businesses need to have appropriate coverage amounts to be sure they're protected if a large claim is filed.

What E&O Insurance Covers

Policies can vary, but most forms of errors and omissions insurance cover the following. Note that some industries don't need all of the coverage mentioned below, while others may need additional coverage because of the nature of their operations. Walnut Risk Management, LLC agents will help you determine which coverages are best for you.

  • Claims and Damages: These are one of the major sources of potential loss that your company faces. E&O protection on claims can reimburse you for any payouts you may have to make as a result of such claims being filed.
  • Defense Costs: Whether or not you win a case, your attorney is going to expect payment. E&O insurance can reimburse you for their fees, allowing you to hire professional support without worrying that it will be too expensive for you to afford.
  • Employees, Temporary Staff, and Independent Contractors: You may be liable for the actions that anyone associated with your business takes—whether or not they're an employee. This part of the policy protects you if they make a mistake.
  • Negligence: Often considered one of the most important parts of E&O coverage, negligence coverage can reimburse you for problems like making a mistake while giving advice or failing to complete a job. Whatever the cause of the problem, ensuring you're covered will help protect your business if something goes wrong.

Errors and omissions policies payouts vary among companies depending on the possible severity of financial mishaps. If you're not sure how much of a cap your business should have in each category, call one of Walnut Risk Management, LLC agents today and ask them for more information. You may need to increase your policy cap as your business grows, and we can help you decide when it's time to raise the limit.

 

1. Oxford Reference, s.v. “errors and omissions,” www.oxfordreference.com/view/10.1093/oi/authority.20110803095756997?rskey=tDNztO&result=1

2. "Why Consumer Trust Is the Key to Repeat Business." The Wise Marketer. January 2005. Accessed April 18, 2016. http://www.thewisemarketer.com/features/read.asp?id=54.

3. "Claims Trends." Insurance Journal News. November 03, 2014. Accessed April 18, 2016. http://www.insurancejournal.com/magazines/features/2014/11/03/345153.htm.

Facebook
LinkedIn
Google+
Get Directions
Contact Us Today
How Can We Help You?
Resources
Products
Payment Options
Report a Claim
Personal Lines Carriers
About Us
Refer A Friend
Contact Us
Contact us 1100 Walnut Street, Suite 3000
Kansas City, MO 64106

Phone: 816-503-6222
Fax: 816-759-2770
Email: information@walnutrisk.com
© Copyright. All rights reserved. Powered by Insurance Website Builder.