Call Us (800) 460-6424 ☰ ˟
Information and Resources On The COVID-19 Pandemic: Click Here
Logo
(800) 460-6424
  • Home
  • Get A Quote
    • Agents E&O Quick Application
    • Commercial Crime Application
    • Commercial Crime Quick Application
    • Cyber Liability Application
    • Director's & Officer's Application
    • Director's & Officer's Quick Application
    • Employment Practices Liability Application
    • MGA/Wholesaler Application
    • Real Estate Professional Liability
  • Policy Review
  • Insurance for Your Agency
    • Errors & Omissions
    • D & O Insurance
    • Cyber Liability Insurance
    • Commercial Crime
    • Employee Dishonesty
    • Professional Liability Insurance
    • Punitive Damages
  • Resources
    • Articles
    • Refer a Friend
    • Insurance Glossary
    • Contact Us
    • Financial Ratings
  • About Us
    • About U.S. E & O Brokers
    • View our Blog
    • Our Locations
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Blogs
real estate button
cyber liability button
master policy programs button
Home > Blog > Make Sure E&O Coverage Insures Libel and Slander
FRIDAY, MARCH 8, 2019

Make Sure E&O Coverage Insures Libel and Slander

Running your insurance agency means working with a lot of different people. You might have multiple partners that provide you your policy packages. You also deal with clients daily. All these parties expect professional, polite and responsible service. So, if you fail in that duty, you might face claims of libeljustice are slander. These charges could get costly, and they could damage your reputation. However, if you have errors & omissions (E&O) insurance, you might have recourse. Here’s why.

Your commercial insurance should include E&O protection. Slander and libel risks, even untrue ones, could arise at any time. You therefore should do everything you can to prevent these instances in the first place.

What Are Slander and Libel?

Slander and libel refer to actions you commit that harm another person or their reputation. Slander is a false claim about someone made through spoken words. Libel is a false claim made in writing.

In this regard, libel and slander become liabilities for your business. If someone within your agency commits one of these acts, then they could harm someone outside the business. That person, as a result, might hold you responsible for the reputational damage they might experience. Errors & omissions insurance can therefore help you to respond to these claims.

How E&O Insurance Can Help You

Let’s say that one of your insurance partners alleges that you committed slander against them. For example, they might claim that you told another agency not to work with their company because they steal from agencies.

Regardless of if you actually made this claim, the allegation alone might have harmed the company. It could cause reputational damage and inhibit their ability to do business. They might therefore sue your agency for the harm you caused them.

Even if you don’t have to settle with them in court for damages, the action could still cost the agency. You might face costly legal fees, for example. So, even if you were totally innocent of the crime, it still might cost you. It is during these cases that E&O insurance might cover legal fees, settlements and even repayment for emotional distress. Therefore, both parties have a better chance of weathering the storm that might surround them.

Of course, you never want to face a slander or libel allegation to begin with. Therefore, professionalism might prove one of the best ways to avoid these situations. You must enforce the strictest codes of professional ethics within your organization. Employees should know how to maintain appropriate, polite relations with anyone, from coworkers, to bosses and clients.

Also Read: Determining Your E & O Insurance Requirements

Posted 10:03 AM

Tags: errors and omissions insurance, e and o insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

  • cyber liability insurance(30)
  • errors and omissions insurance(16)
  • e and o insurance(14)
  • business insurance(9)
  • directors and officers insurance(9)
  • d and o insurance(8)
  • eando insurance(7)
  • errors and omissions(7)
  • e&o insurance(6)
  • insurance(4)
  • coverage(4)
  • cyber insurance(3)
  • insurance agencies(3)
  • directors & officers insurance(3)
  • professional liability insurance(3)
  • directors and officer's insurance(2)
  • claims(2)
  • commercial crime insurance(2)
  • officers(2)
  • data breach(2)
  • small business owners(2)
  • small business insurance(2)
  • cyber liability(2)
  • omissions(2)
  • directors(2)
  • e & o(2)
  • tips to avoid scams(2)
  • errors(2)
  • policy(2)
  • covid-19(1)
  • ransomware(1)
  • phishing scams(1)
  • billing errors insurance(1)
  • dando insurance for insurance agencies(1)
  • fraud week(1)
  • crime coverage(1)
  • e and o(1)
  • cyber attacks(1)
  • eando insurance for insurance agencies(1)
  • storm surges(1)
  • finance(1)
  • cyber damage(1)
  • directors and officers insurance for the insurance industry(1)
  • social media(1)
  • white collar crime(1)
  • renewal(1)
  • insurance fraud(1)
  • commercial crime policy(1)
  • fraud(1)
  • fraud resources(1)

View Mobile Version

Featured Products

Featured Product Real Estate Featured Product Lawyers Featured Product Cyber Liability Featured Product Commercial Crime
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Logo
Social
Quick Links Home About Us Refer A Friend Contact Us
Location Corporate Headquarters
2050 W. Sam Houston Pkwy S Ste 1500, Houston, TX 77042
Contact O: 281-243-5755O: 713-984-1370F: 713-984-1152
© Copyright. All rights reserved. Powered by Insurance Website Builder