Insurance · Compliance & Legal
Errors & omissions Compliance & Legal policy
An internal policy setting out how an insurance business manages professional liability risk and maintains its errors and omissions coverage.
What it usually contains
- required E&O coverage limits, deductibles, and who must be named insured
- standards for documenting client advice, coverage recommendations, and declined coverages
- procedures for reporting potential claims, complaints, and incidents to the carrier and legal
- rules on retaining files, emails, and signed rejection forms for a set period
- training, licensing, and supervision requirements for producers and service staff
What the assistant uses it for
Use to answer what E&O limits the business must carry, how staff should document recommendations and coverage rejections, and the steps and deadlines for reporting a potential errors and omissions claim.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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