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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. Noltensmeyer Insurance Services 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 Noltensmeyer Insurance Services 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.

Our Locations

Richmond/Sugar Land Office

6546 Greatwood Pkwy Suite A
Sugar Land, TX 77479
Main office: 281-609-7942

Houston Office

10777 Westheimer Rd Suite 107
Houston, TX 77042
Main office: 281-609-7942

Memorial Office

14520 Memorial Dr Ste K
Houston, TX 77079
Main office: 281-493-4111

Cook Insurance Services

140 Eldridge Road Suite F
Sugar Land, TX 77478
Main office: 281-789-6288

Godbee Insurance Agency

4655 Sweetwater Blvd Suite 250
Sugar Land, TX 77479
Main office: 832-981-2479

Tyler Office

113 Shelley Drive
Tyler , TX 75701
Main office: 903-307-2073

West Houston Office

14530 Old Katy Rd Suite 125
Houston, TX 77079
Main office: 281-819-3293

Our Providers

Testimonials

Our former provider rates went up dramatically when we added a teen driver so I called Noltensmeyer Insurance. Agent Natalie Bailey found us more coverage and better rates. The transition was quick & painless with outstanding customer service. This agency's knowledge and expertise gives us great peace of mind.
LeeinHouston
Missy Thomas has provided outstanding customer service for the 10+ years I have been with the agency. Her professionalism, insurance knowledge along with her vibrant personality make it a pleasure to do business with her/the agency. :)
Shawn
I noticed that our insurance rates kept going up, so I decided to do some comparative shopping. We decided on Noltenmeyer Insurance Services for three reasons; 1) we saved a lot of money on our insurance package, 2) the customer service is excellent and 3) they have a high degree knowledge and expertise and we are confident that we are adequately protected. What sets Noltenmeyer apart from others is their customer service. They are kind, patient and I never feel like I am a bother to them.
JoAnne
I have been with this company for years! Mt agent, Missy T. gives the BEST service and I will go where ever she goes. I think this company is lucky to have her and she needs a raise and promotion to Manager of a branch. If she could teach others her people skills this company would grow even more, and that is without TV/Radio advertisement. It would be from GREAT people skills and the circle process to figure out how to assist the client to get what they need and you get paid for it. I recommend Missy T. and her services to all my employees, family and friends when they tell me they are not happy with their insurance agent/company.
Anonymous
I have come to find I can depend on Missy for all my needs. She's quick to respond and always follows up. I appreciate Missy's work ethic and will continue to come to her with all my insurance needs.
LoLo
We have the best agent! She's always helpful, attentive, and pleasant. She always responds in a timely manner. Because of this, I have referred many clients to her who also feel she does a great job!!!
Robbins
Dan and his staff are helpful, caring experts who put my mind at ease regarding all of my insurance needs. I feel as though I am getting the best insurance coverage possible along with the best price available in the industry. The service and attention I have recieved over a number of years is unbeatable. I know, I tried another company to save a few bucks a few years ago and I am now back with Nationwide. The meager dollar savings couldn't make up for the loss of friendly, reliable service I get from everyone in Dan's office.
AnnG
Dan Noltensmeyer insurance has taken great care of me. I use them for auto, home, and my RV's. Any time I have a question or need some assistance, they have been right there to help me. I appreciate the customer service. Thank you so much!!
LeeAnn
A + For service, price and reliability. Keep up the great work, for that is why I have been a customer for over 9 years. Best Regards, C.E. Lothringer
Chazz
The Noltensmeyer Agency is about service. I have a wide array of insurance needs. The staff goes above and beyond to make sure all my needs are met. In today's world, I cannot afford to make a mistake with my coverages. I am confident that my needs have been coordinated to the best possible coverages available. I know that I could not receive this level of expertise with a discount house. I have been with Nationwide for ~ 15 years and plan to be for a long time to come.
ChrisH
I've been a customer for 13 years. Besides having to review some prices every once in a while, we've been very satisfied with Noltensmeyer Ins Serv LLC. Although I've never had to make a claim of any kind, I can count on their services for all my insurance needs. Keep up the good work...
Marroon5
I have been with Noltensmeyer Insurance for many many years.. Kristi at his office has always been so helpful and always takes time to help me when needed. I have never felt like I was just another customer. You can't find service like that anywhere these days. Thank you for always being such a great help when needed. AH
Homoki