Errors And Omissions Liability Insurance
Definition of "Errors and omissions liability insurance"
Policies generally available to the various professions that require protection for negligent acts and/or omissions resulting in bodily injury, personal injury, and/or property damage liability to a client. For example, insurance agents are constantly exposed to the claim that inadequate or improper coverage was recommended, resulting in the client suffering a loss of indemnification. If sustained, the agent (or the carrier) would have to make good the claim of the client without the adequate insurance coverage.
Popular Insurance Terms
Protection for all classes of business including automobile, fire, general liability, homeowners, multiple peril, burglary, and glass, by combining the contracts for these classes of ...
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Policy provision that provides coverage for continuing payroll expense of all employees of an insured business (except for officers and executives) for the first specified number of days of ...
Premium income divided by the surplus account. ...
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Combination of coverages from property and liability policies. ...
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Local life insurance office that sells and services ordinary life insurance as well as other forms of life insurance except debt insurance. ...
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