(pronounced just as the individual words read)
Oh, the fun of having one’s own business in a lawsuit-happy world. E&O (as it is often referred to) is a type of insurance that is most often needed for those who come up with design solutions and/or give advice (i.e., make skilled suggestions) to clients. It’s a way that business owners protect themselves when customers assert that something you did on their behalf was done inaccurately, and that the error (or omission) hurt them financially or caused them harm in some other way. Proving one’s innocence (or lack of liability) against a claim is often an expensive process, and most E&O policies cover defense costs in addition to the final judgment if you don’t win the case. But let’s not think about that. Shudder.