Originally Posted by caseyturton
Does this include "errors and ommissions" which IT folks often face in the software development/implementation biz
BOP's don't include they type of coverage that one would get from an E&O policy. BOP's only cover Building, Biz Pers Property and Liability. The liability portion of a BOP doesn't cover the consulting scope of your duties. It will cover the "General" liability side of things.
In most cases "consultants" make themselves out to be "experts" within a given area. If you client feels that your work failed to meet their expectations - you may face a liability claim or lawsuit. E&O is there to protect the consultant from major financial loss that can result from a lawsuit.
It's a good idea to have some E&O. IT consultants would be in the *neighborhood of $1800/year for this type of coverage.
*neighborhoods change, and this number will vary within the field. you should get a quote and see where it puts you.
~quotes don't cost a thing - except time~