Define: Errors And Omissions

Errors And Omissions
Errors And Omissions
Quick Summary of Errors And Omissions

Errors and omissions (E&O) refers to liability insurance that protects professionals and companies against claims of inadequate work or negligent actions. It covers financial losses resulting from mistakes, errors, or omissions made while providing professional services. This type of insurance is crucial for professionals such as lawyers, accountants, architects, real estate agents, and insurance agents, as it provides financial protection against claims arising from their professional activities. E&O insurance typically covers legal defence costs and damages awarded in lawsuits resulting from alleged professional negligence, errors, or omissions.

What is the dictionary definition of Errors And Omissions?
Dictionary Definition of Errors And Omissions
n. short hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence.
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This glossary post was last updated: 28th March, 2024.

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