Important Facts About Liability Insurance

Here is the most common question we get from Professional Speakers… Do I need BOTH E&O and CGL Insurance Coverage?

Here is how we answer that question. This information will help you to make the decision that best suits your unique needs:

E&O means:  Errors and Omissions.
CGL means:  Commercial General Liability

• E&O & CGL insurance policies are designed to complement one another.
• CGL protects against bodily injury, personal injury (libel & slander) and property damage to third parties.
• CGL coverage is triggered by a lawsuit resulting from the negligent actions of an owner, director, or employee. However, CGL coverage does not respond to lawsuits related to professional services or pure financial losses.
• E&O insurance protects against claims not covered by CGL, including lawsuits related to professional services or pure financial losses.
• The CAPS E&O policy covers errors, omissions, or negligent acts which may arise from the professional services and advice offered by insured members.
• Both CGL and E&O cover allegations, whether or not factual, the legal costs to defend a civil law suit, and any compensatory damages awarded.
• Purchasing BOTH CGL & E&O Insurance will ensure your business is fully protected against liability claims, and not exposed through gaps in coverage.
• Under the CAPS Group Insurance Programs, members can purchase E&O insurance on its own; however, CGL can only be purchased in combination with E&O. Combined E&O and CGL coverage provides a total liability package and a very cost-effective risk management solution.