errors and omissions insurance

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Errors and Omissions Insurance

An insurance policy providing coverage for a professional in the event he/she does not perform his/her duties well and it results in harm to a client. That is, errors and omissions insurance covers negligence. It is offered to attorneys, physicians, architects, etc. It is known by its abbreviation, E&O.

errors and omissions (E&O) insurance

Insurance that protects against malpractice. Especially when working with a buyer's broker, who has a high degree of responsibility to anticipate problems and warn the client, one should ask for proof of E&O insurance before hiring a real estate professional.

References in periodicals archive ?
As part of Darwin Group's niche specialty strategy, Darwin Select will focus on non-admitted, excess and surplus lines specialty liability insurance, including directors and officer's liability, errors and omission liability and medical professional liability.
endorsed errors and omission (E&O) insurance program underwritten by AIG and brokered by Linsin, Sherman Associates.
Pearl administers an errors and omission insurance program specifically designed for real estate professionals and endorsed by over 40 state and local realtors associations in addition to the country's largest network of leading independent residential real estate firms.
July 30, 2015 /PRNewswire/ -- The Chubb Group of Insurance Companies has created an insurance product to help protect professional services firms, media organizations and technology companies from errors and omissions (E&O), media liability and cyber exposures.
Between January and May, net errors and omissions remained the biggest source of financing that helped shrink the current account gap.
LIU is the first primary insurance carrier to offer capacity and coverage specifically tailored for this platform covering data privacy and technology errors and omissions risks in the cloud environment.
6: STANDARDS RELATING TO TAXPAYER ERRORS AND OMISSIONS
Errors and omissions in preparing tax returns can occur easily.
Allstate case, and others like it, are examples of the kind of legal action that could trigger errors and omissions insurance claims from independent insurance agents in Katrina-affected areas.
Today's litigious environment brings real estate agents face to face with increased risk that they will face claims of errors and omissions (E&O).
CalSurance, a national insurance sales, service and support company, has enhanced its specialized errors and omissions program for broker-dealers with less than 75 brokers, the company said.