** Errors and Omissions insurance protects you up to the amount of the policy. Most policies also provide you with legal defense at no additional cost. **
Does your insurance have a "duty to defend" clause? If not, in my opinion, it effectively nullifies the insurance. They do not cover things that are willful. If a company actually decided to sue me over an error, you can bet that they would say that I did it intentionally because it strengthens their case. At which point, my insurance company could bow out. A "duty to defend" clause would mean that would have to be proved in court that it was willful before they could claim that they have no responsibility to cover it.
I suggest everyone look this up further, the above is about all the information that I have on the matter. However, my father recently gave me a lesson in this type of insurance after recounting a personal protracted court case of his. |
