errors and omissions insurance

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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 ?
But even those financial institutions that have errors and omissions insurance may find their coverage in dispute.
An important part of risk management involves purchasing Real Estate Errors and Omissions insurance from a financially strong insurance company to protect you and your business.
A related and equally significant claims-made issue is "gaps" in coverage existing for acts, errors and omissions that lead to claims after professionals change jobs or sell a business.
While errors and omissions do occur in the reporting of current account transactions as well as capital account transactions, the more than three-fold increase in the statistical discrepancy from $22 billion in 1989 was probably accounted for largelly by net unreported private capital flows.
However, the opposition Republican People's Party (CHP) was skeptical in its appraisal of Turkey's net errors and omissions figures, noting that in a report released in March 2014, $2.4 billion in unexplained money entered the country -- a national record.
CloudInsure clients will have access to specialist privacy cover for data stored in the cloud should it be unintentionally released, and technology errors and omissions coverage if their systems fail to deliver as promised.
Allstate case, and others like it, are examples of the kind of legal action that could trigger errors and omissions insurance claims from independent insurance agents in Katrina-affected areas.
CalSurance, a national insurance sales, service and support company, has enhanced its specialized errors and omissions program for broker-dealers with less than 75 brokers, the company said.
Additional risks include Web content liability such as libel, slander, and trademark infringement; professional errors and omissions liability; and network security and liability loss.
Currently, practitioners must inform clients promptly of any noncompliance, including errors and omissions.
The new plan, MediKey [SM], takes the guesswork out of coding and protects earnings with special low-cost Billing Errors and Omissions (E&O) insurance, available to healthcare providers and facilities that enroll in the compliance plan.