E & O insurance can benefit any small business owner from real estate agents to architects. Others that need to be covered are some administrators, brokers, insurance companies, and quality control. Medical malpractice suits are an example of a good reason to have E & O insurance. Professional liability can occur at any time because a mistake can happen in the best of circumstances. It is always best to be prepared before something happens to prevent going to court and being sued. The insurance will pay the value of the policy to cover legal fees and settlements. Errors and Omissions Insurance