800-947-7244

Errors and Omissions Insurance in Olathe KS & Overland Park KS

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. AHI Group 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 AHI Group 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.

AHI Group

2143 E 151st St

Olathe, KS 66062

Main office: 913-320-0129
Toll free: 800-947-7244
Fax: 913-839-1479

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Our Providers

Testimonials

Scott has handled my firm's E&O Insurance and my personal health insurance for several years. He responds quickly, gets quotes/renewals in on time, and is in general a pleasure to work with. I highly recommend him!
Amy Speck Vinton, Overland Park, KS
Finally, here’s an insurance agency that treats you like a person and not a number. They truly are about their customers’ best interests. We can’t stress how much we enjoyed the personal touch and interest that the Coffmans demonstrated. I will recommend them to all my friends and business associates for all their insurance needs!
Richard Lewis, Overland Park, KS
I am pleased to tell anyone interested that the commitment level at AHI is well over 100%. I will sing their praises to the moon!!
Tom Acree, Shawnee, KS
You are wonderful! I LOVE working with you! You are pleasant, you’re professional, you’re proactive, and you do the right thing for the customer. A BIG thanks!
Kathy Vervaecke, Kansas City, MO
Scott’s professionalism and personal care impressed me. He presented me with a package of better coverage at lower rates. I am already recommending AHI to friends.
Clark Smith, Overland Park, KS