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.