E&O insurance financial definition of E&O insurance
errors and omissions insurance (redirected from E&O insurance)
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Errors and Omissions Insurance
An insurance policy
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.