There are many different types of insurance on the market that are meant to help and protect individuals who need this coverage for work. Perhaps you have heard of d&o and e&o insurance, but don’t understand the difference between the two and which one is best for your needs. Here is a look at what each type of coverage offers.
D&O Helps Directors and Officers
Individuals who hold positions in a company or organization as directors or officers need a special type of insurance known as d&o coverage. According to transparity insurance, this type of coverage protects them when they fail to follow by-laws or there is defamation of a board member. Having this insurance can help them do their job without worrying about constant repercussions.
E&O Covers a Variety of Situations
Many individuals can benefit from e&o insurance, which is also known as errors and omissions insurance. This can help everyone from medical personnel to lawyers and insurance underwriters. If there is an error in your work, the insurance can help you cover it, rather than you having to pay for the error out of your own pocket.
Before you commit to a type of coverage, it is important to know what d&o and e&o insurance offer and how they can help you in your line of work.