What does Errors and Omissions coverage in an Equipment Breakdown Protection policy provide?

Errors and Omissions coverage in an Equipment Breakdown Protection policy is designed to address situations where damages arise as a result of mistakes or unintentional oversights made by the insured. This type of coverage acknowledges that even the most diligent professionals can make errors. If a breakdown occurs that would typically fall outside the standard scope of coverage due to an error or omission on the part of the insured, this coverage can provide financial protection.

This feature is particularly important in risk management, as it helps to mitigate potential losses and ensure that the insured is protected against liability that could stem from their actions, providing peace of mind in managing equipment and operational risks.