E&O Insurance for BPO Agents: What Vendors Require
No current E&O certificate, no orders. Here is what vendors look for and how to stay compliant.
Almost every BPO vendor asks for proof of errors and omissions (E&O) insurance before approving you. An expired certificate can quietly stop your broadcasts.
What E&O covers
Professional liability: claims that your work contained an error or omission that caused a client a loss. For BPO work, that means claims arising from your opinion of value or report.
What vendors typically ask for
- A certificate of insurance showing your name and policy dates.
- A minimum coverage amount, which varies by vendor.
- Confirmation that the policy covers BPO or valuation work, not only brokerage.
Check each vendor's exact requirements; they differ.
Brokerage policy or your own?
Some agents are covered under their brokerage's policy; others buy their own. Confirm that whichever policy you use explicitly includes BPOs.
Keep it current
- Set a reminder a month before renewal.
- Upload the new certificate to every vendor portal as soon as it arrives.
- If broadcasts from a vendor suddenly stop, check whether they are still showing your old certificate.
This is general information, not insurance advice. Speak to a licensed insurance professional about your coverage.
Related: how to become a BPO agent.