The type of insurance plan available for professionals is designed to protect against claims that the policyholder is legally obligated to pay as a result of error or omissions in his or her professional work. This kind of insurance liability professional is also known as errors and omissions insurance and is very important for any professional in their business. E&O insurance addresses legal claims of professional liability in the operation and delivery of your professional services. This type of liability insurance plan can be customized in a way that is both affordable and effective.