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What is Errors and Omissions (E & O) Insurance?
Error and Omission insurance is coverage for liability from errors or omissions in the performance of professional duties.
Who needs E & O insurance?
Any professional in the business of providing service to a client for a fee has an E & O exposure and should purchase professional liability insurance.
How much does bookkeeper professional liability costs?
Premium range from $300 to $1,000 depending on the size of your firm and revenue, discounts are available if your are a member of the AIPB
What limits and deductible should I carry?
Limits vary but the majority of insured's select $100,000/$200,000 with a $1,000 deductible
Why are their two options for E & O insurance?
Each program is designed for Bookkeepers liability but have different underwriting requirements.
What are the payment options for this program?
The Travelers Insurance Company bills you direct and offer a full payment and a two payment option.
Are there any fees with this program?
There are no fees charged from Travelers or NAPLIA
What benefits does NAPLIA offer?
Naplia provides identity theft coverage for all firm members and their spouses, to register please go to our resource page.
In addition NAPLIA provides engagement letters and other risk management information designed for bookkeepers.
NAPLIA also offers web casts at no cost several times a year.
Are there other coverage’s my firm should consider in addition to E & O insurance?
NAPLIA recommends employee dishonesty coverage that provides coverage for your clients funds from theft by your employees, see the employee dishonesty section