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Errors and Omissions Insurance in Seneca and Clemson, SC

Errors and omissions refer to mistakes, negligence, or discrepancies in a business’s accounting records, which can possibly be interpreted as fraud and lead to legal action. Business owners and executives have several legal and financial responsibilities that accompany their roles, and if they fail to fulfill these responsibilities by inaccurately reporting income, errors and omissions insurance will reimburse a business for problems arising from these fiduciary oversights.

As a business owner, you know how important it is to live up to your promises. Consumer trust is a key part of earning repeat business, which in turn helps to create a stronger, healthier, and more profitable company.

Errors and omissions claims have been trending higher in recent years, with multiple‑million dollar lawsuits being filed more frequently than ever before. Accordingly, most businesses need to have appropriate coverage amounts to be sure they're protected if a large claim is filed.

What E&O Insurance Covers

Policies can vary, but most forms of errors and omissions insurance cover the following. Note that some industries don't need all of the coverage mentioned below, while others may need additional coverage because of the nature of their operations. Chudyk Financial Services and Insurance Group agents will help you determine which coverages are best for you.

  • Claims and Damages: These are one of the major sources of potential loss that your company faces. E&O protection on claims can reimburse you for any payouts you may have to make as a result of such claims being filed.
  • Defense Costs: Whether or not you win a case, your attorney is going to expect payment. E&O insurance can reimburse you for their fees, allowing you to hire professional support without worrying that it will be too expensive for you to afford.
  • Employees, Temporary Staff, and Independent Contractors: You may be liable for the actions that anyone associated with your business takes—whether or not they're an employee. This part of the policy protects you if they make a mistake.
  • Negligence: Often considered one of the most important parts of E&O coverage, negligence coverage can reimburse you for problems like making a mistake while giving advice or failing to complete a job. Whatever the cause of the problem, ensuring you're covered will help protect your business if something goes wrong.

Errors and omissions policies payouts vary among companies depending on the possible severity of financial mishaps. If you're not sure how much of a cap your business should have in each category, call one of Chudyk Financial Services and Insurance Group agents today and ask them for more information. You may need to increase your policy cap as your business grows, and we can help you decide when it's time to raise the limit.

 

1. Oxford Reference, s.v. “errors and omissions,” www.oxfordreference.com/view/10.1093/oi/authority.20110803095756997?rskey=tDNztO&result=1

2. "Why Consumer Trust Is the Key to Repeat Business." The Wise Marketer. January 2005. Accessed April 18, 2016. http://www.thewisemarketer.com/features/read.asp?id=54.

3. "Claims Trends." Insurance Journal News. November 03, 2014. Accessed April 18, 2016. http://www.insurancejournal.com/magazines/features/2014/11/03/345153.htm.

Our Location

Chudyk Financial Services and Insurance

916 East North First Street
Seneca, SC 29678
Main office: 864-606-3589
Fax: 864-882-1045

Our Providers

Testimonials

I have been with Nationwide since I was in my 20's and I have been well pleased with every aspect. I look forward to many more years to come.

kdrhodes
Very pleased with my service. Great customer service, easy to work with, overall a great experience!

MVance
We needed to get rental insurance while we built our new home. Chuck was quick, knowledgeable, and very helpful with our needs.

Juliekdrn
David and his staff have been great in assisting in every way! Always available and very knowledgeable about any situation.

GalinaH
All insurance companies pretty much have the same products to offer. What sets this agency apart is the unsurpassed customer service. The ENTIRE staff including David himself make you feel like you are their ONLY customer. I chose this agency not because their prices were lower but because of the service I received. I have been with this agency going on 2 years and the level of service has never changed. This tells me they not only wanted my business they want to keep my business. If you are looking for auto/home/life insurance or financial services, do yourself a favor and give this agency a shot, you won't be sorry!

SCGirl
These guys know that sometimes you meet with rough edges in life and they never falter to assist with giving me the proper information on any changes or new savings I might get. Would not switch to another store if you PAID me too!! Always friendly, Always provides a solution to any problem!

ZoesMama
I have been with Nationwide since 1998. With David Chudyk for many years since my original agent retired. I have been extremely happy with this agent and his staff. They are very nice, professional and always help me any way they can. Customer for life.

Sheryl2112
David researched an insurance question for me and provided a thorough answer. When I responded with an additional question, David politely instructed me where to find that information in the material he had already provided. Quite kind and patient and clearly knew what I needed. In addition, he was able to respond at a time that was definitely beyond the bounds of the normal business day. Thanks . . .

henryj
5/5 great service. nice to get someone on the phone when you need to.

Daniel321
eveybody is so nice and welcoming at the david chudyk agency , i would recommend him to anyone and everyone !! the front desk girl cassie if very nice and always does what she can to help .

Anonymous
My husband recently had some issues, as a result of an error with the Virginia Dept of Motor Vehicles. The issue was clearly their fault. My husband showed up at David Chudyk's office after hours and Mr. Chudyk opened the office back up to help him. It took over 3 weeks to have the issue resolved, but Mr. Chudyk and his staff faxed, refaxed and refaxed again the paperwork that they needed as well as made numerous phone calls. I appreciate David Chudyk and his staff for helping my husband straighten this issue out. I feel that they went above and beyond for us.

jagibson
During an exhausting search for a better price with my clients insurance for Business and personal. I was extremely aware that David was not only considerate but helpful in guiding me to the right coverage at the best possible pricing.. He has went beyond any other agent in my past 25 years has done to ensure that this office and my clients personal coverage was not only what the required but what they needed. In a world of law suits coming for all directions having someone to guide you in what is necessary is what I call above the bar service. Also I am in Cashiers NC and he had no problem servicing our needs from his Seneca SC business office. I plan to let everyone know what an excellent individual / company he is to work with! Again. Thank You David and staff.

Rice
This is.one of the best offices aroun they are very nice and helpfull. I would recomend this for anybody:D

Evan
I have worked with David over the last year. He has shown me that his main goal is to provide excellent service and adequate coverage to his clients. Recently, I spoke with a current customer of David's who spoke very highly of David's consultative selling approach. In fact, he said that he knows David will always take care of him and make sure he has all the coverages he needs, no more and no less.

Anonymous
David and staff are always responsive to my requests for information and policy changes. My preferred channels of communication are email, phone, and text message, but usually not an office visit. The Chudyk agency has always responded to my requests and needs in a timely manner regardless of which method of communication I use to contact them. Thus far, my experience with Nationwide and the Chudyk Agency have been positive.

sburrell