Errors & Omissions Insurance

Errors & Omissions Insurance

When Things Go Pear-Shaped – and it’s your fault

If your work involves selling your knowledge, services and expertise to others, then Professional Indemnity insurance (PI) is a must. It’s an essential piece of armour for anyone who could be sued for making a mistake.

In this everything-by-yesterday world, even the most respectable company can find itself in dispute with a client over an error, a delay or alleged breach of contract. 

Why do I need it?

In the political climate of harmonization and consumer protection, it’s hard to keep up with changes in the law, and many companies find themselves embroiled in expensive disputes without realizing they’d done anything wrong. Failing to defend these allegations properly could cause irreparable damage to the reputation and financial stability of your business. Every day your business could be exposed to allegations of:

  • Negligence or breach of duty of care
  • Negligent mis-statement & defamation – unwitting or intended comments
  • Infringement of intellectual property rights including copyright, performance and broadcasting rights
  • Breach of contract
  • Dishonesty of your partners, directors, employees or freelancers

How will it protect my business? Errors & Omissions Insurance helps with:

  1. Indemnification and defense costs: legal expenses cover to defend your cause in a dispute 
  2. Rectification: the insurer may pay to rectify the problem to mitigate costs and avoid an expensive liability claim
  3. Outstanding fees: if a dissatisfied client threatens legal action and defaults on fee payment, the policy can cover outstanding fees

We can help you review your contractual obligations to identify the extent of indemnities that your clients require. Contact us using the form below.

Case Study: Errors & Omissions
A TV broadcaster aired a commercial with the incorrect voice-over. The insurer helped broker a deal with the customer, who accepted free media space and dropped the case for compensation.

What is E&O insurance?

In this everything-by-yesterday world, even the most respectable company can find itself in dispute with a client over an error, a delay or alleged breach of contract. E&O insurance provides indemnity for losses you are legally liable for if you make a mistake or are negligent, or if your product or service is defective, inadequate or fails to perform.

What if...

Allegations are unexpectedly made against your organization for:

  • Negligence or breach of duty of care?
  • Negligent mis-statement & defamation – unwitting or intended comments?
  • Infringement of intellectual property rights including copyright, performance and broadcasting rights?
  • Breach of contract?
  • Dishonesty of your partners, directors, employees or freelancers?

Failure to defend your business adequately could cause irreparable reputational damage - not to mention the financial implications.

What is E&O insurance?
In this everything-by-yesterday world, even the most respectable company can find itself in dispute with a client over an error, a delay or alleged breach of contract. E&O insurance provides indemnity for losses you are legally liable for if you make a mistake or are negligent, or if your product or service is defective, inadequate or fails to perform.

Errors & Omissions Insurance helps with:

  • Indemnification and Defense costs: legal expenses cover to defend your cause in a dispute 
  • Rectification: the carrier may pay to rectify the problem to mitigate costs and avoid an expensive liability claim.
  • Outstanding fees: If a dissatisfied client threatens legal action and defaults on fee payment, the policy can cover outstanding fees.

We can help you review your contractual obligations to identify the extent of indemnities that your clients require.

Download: Arts & Entertainment Brochure PDF Document

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I found the service very welcoming and helpful. Feeling very uncertain about our needs and requirements meant I was a little nervous about the whole process, but [La Playa] was very patient and explained everything simply and slowly.

Anna P, Festival

 

Ready to work with us?

You can call us to talk more about your business on +1 646 665 7737

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About La Playa Arts & Entertainment

Specialist & Independent

Specialist & Independent

The arts present a very specific set of risk exposures – and now your digital and online risks can expose you globally. We understand the risks and pressures you face - and we speak your language. We’ll support you with great advice - helping you make good decisions for your organization.

Our policies can help streamline costs, and we’ll always help you stay ahead of the game in managing risk. The show must always go on - insurance isn’t just about processing a claim, it’s about thinking laterally to solve challenges and problems fast.

At La Playa, we’re passionate about the arts and creative industries – many of us are practitioners and active consumers; in fact, La Playa founded the first ever corporate art collective!

Advice You Can Trust

…from an expert who understands you

  • Specialist insurance for entertainment and the arts
  • Independent professional advice
  • Relationship-based service: right beside you when you make a claim
  • “Can do” culture
  • Seamless insurance across US and UK

 

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Charlene Gill

ACCOUNT EXECUTIVE

Direct Dial: 646 665 7737

Mobile: 917 715 4672

Email: charlene.gill@laplayainsurance.com

Twitter: @LaPlayaAdviser

+1 646 665 7737
+44 (0) 20 3865 0149
+44 (0) 1223 200650