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 ?
Another major issue that has come to the fore in the errors and omissions realm in just the past few years is parent-company pressure to consolidate the errors and omissions policy purchases among a number of its subsidiaries, often ones that are almost exactly alike in nature, but which traditionally had worked with separate brokers.
Patrick's Day draws near, taxpayers should remember that they could uncover more than a wee bit o' green by taking advantage of H&R Block's free Double Check Challenge to review old tax returns for errors and omissions.
The system's ability to provide easy access to essential data, the broker said, should cut down on errors and omissions liabilities.
Commenting on the announcement Mark Rattner, Chief Executive Officer of PIA, said, "PIA has earned the reputation of being the most disciplined and efficient underwriter of small errors and omissions business in the USA.
Commercial Insurance brokers, like other business service sectors, are frequently asked to prove they have acted responsibly, completely, and with appropriate speed to protect clients from risks, and they face exposure to enormous Errors and Omissions (E&O) liabilities if they do not.
In addition, one of the key coverages offered by carriers that insure technology risk is errors and omissions.
CalSurance, a national insurance sales, service and support organization comprising many diverse and specialized programs, today announced that it has launched a specialized errors and omissions program for broker-dealers with 75 or fewer registered representatives.
Realtors and accounting professionals now have errors and omissions coverage available through the CPA Advantage and the Real Estate E & O programs.
have been writing these information technology errors and omissions policies--also known as information technology malpractice professional liability policies--for decades, the clamor is increasing for this insurance because it fills gaps in liability coverage.
They offer a depth and breadth of experience in problem solving in such areas as Directors' and Officers' Liability, Errors and Omissions, Clinical Trials and Product Liability as well as all lines of Property/Casualty that is second to none.
As a result, errors and omissions are identified and corrected at the very beginning of the development process, before they become deeply entrenched, and costly, causes of system development failure.
Zurich North America Surety is offering new errors and omissions coverage to serve notaries public.