errors and omissions insurance
Also found in: Medical, Legal, Financial.
professional liability insurance
Insurance designed to insure an architect or engineer against claims for damages resulting from alleged professional negligence.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive
Agents and brokers'
errors and omissions insurance is a $500 million market with few big players.
The company financed the purchase of insurance for more than 1,000 Hagan customers as well as Hagan's
errors and omissions insurance coverage.
He required his senior programmers to carry their own
errors and omissions insurance and amended his policy to cover the business entity against lawsuits arising from the actions of his employees.
If one took that practitioner's comments to their logical extreme, one would have to conclude that
errors and omissions insurance is undesirable because it diminishes the amount of a practitioner's risk.
Vendors also have
errors and omissions insurance, and the extent of this insurance should be discussed.
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