Errors & Omissions Insurance Oregon
E&O / Professional Liability Insurance for Oregon Businesses
One mistake in your professional services can lead to a lawsuit that costs hundreds of thousands of dollars. E&O insurance protects your business from claims of negligence, errors, and omissions — even when the claim has no merit.
What Is Errors & Omissions Insurance?
Errors and omissions (E&O) insurance — also called professional liability insurance — protects businesses and professionals against client claims that their professional services caused financial harm. This includes claims of negligence, mistakes, errors in work product, or failure to deliver promised services.
Unlike general liability insurance, which covers bodily injury and property damage, E&O specifically addresses the financial harm that can result from professional mistakes. It covers your legal defense costs, settlements, and judgments — even if the claim against you is completely unfounded.
Attorney fees alone can range from $3,000 to $150,000 per claim, and settlements can reach millions. Insure Pacific works with Oregon businesses across dozens of industries to find the right E&O coverage at competitive rates.
Who Needs E&O Insurance in Oregon?
Accountants & CPAs
Tax errors, audit mistakes, and financial advice claims.
IT & Technology
Software failures, data breaches, and tech consulting errors.
Real Estate Agents
Disclosure failures, contract errors, and transaction mistakes.
Consultants
Management, marketing, HR, and business consulting claims.
Insurance Agents
Coverage gaps, policy errors, and failure to procure claims.
Architects & Engineers
Design errors, specification mistakes, and project failures.
What E&O Insurance Covers
Claims-Made Policy: E&O insurance is typically written on a claims-made basis. The policy must be active when the claim is filed, not just when the error occurred. Ask your Insure Pacific agent about retroactive dates and extended reporting periods (tail coverage) when switching carriers.
Frequently Asked Questions
What is the difference between E&O and professional liability insurance?
Errors and omissions (E&O) insurance and professional liability insurance are the same thing — just different names used in different industries. 'E&O' is commonly used in insurance, real estate, and technology. 'Professional liability' is more common in healthcare, law, and engineering. Both protect against claims that your professional services caused a client financial harm.
Is E&O insurance required in Oregon?
Oregon requires E&O insurance for certain licensed professionals, including real estate agents, mortgage brokers, and insurance agents. Even if not legally required, many client contracts and industry standards require it. It's also essential protection for any business that provides professional advice or services.
What does E&O insurance NOT cover?
E&O insurance does not cover intentional fraud or criminal acts, bodily injury or property damage (covered by general liability), employment practices claims (covered by EPLI), or cyber incidents (covered by cyber liability). It also typically does not cover claims arising from work performed before the policy's retroactive date.
How much does E&O insurance cost in Oregon?
E&O premiums vary widely by profession and coverage level. In Oregon, small business E&O policies often start at $500–$1,500 per year for low-risk professions. Technology companies and architects/engineers typically pay more — $2,000–$5,000+ annually. The national median is around $42/month according to Progressive Commercial's 2024 data.
Can a client sue me even if I did nothing wrong?
Absolutely. E&O insurance covers defense costs even when claims are groundless or fraudulent. A client who is unhappy with the outcome of your services may sue regardless of whether you made an actual error. Legal defense alone can cost $50,000–$150,000 before a case is resolved.
E&O Insurance by Location
Get E&O Insurance for Your Oregon Business
Protect your professional reputation and finances with E&O coverage from Insure Pacific — Oregon's independent agency since 1935.
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