errors and omissions insurance
Also known as professional liability insurance. Coverage designed to protect an insured against loss due to a claim of some negligent act, error, or omission by the insured.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Errors And Omissions Insurance - E&O — A professional liability insurance that protects companies and individuals against claims made by clients for inadequate work or negligent actions. Errors and omissions insurance often covers both court costs and any settlements up to the amount… …   Investment dictionary

  • errors and omissions — Shorthand 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 that amount to negligence. Category …   Law dictionary

  • Protection and indemnity insurance — Protection and indemnity insurance, commonly known as P I, is a form of marine insurance provided by a P I Club. A P I Club is a mutual (i.e. co operative) insurance association that provides cover for its members, who will typically be ship… …   Wikipedia

  • Insurance — This article is about risk management. For Insurance (blackjack), see Blackjack. For Insurance run (baseball), see Insurance run. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a… …   Wikipedia

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • Professional liability insurance — (PLI), also called professional indemnity insurance (PII) but more commonly known as errors omissions (E O) in the US, is a form of liability insurance that helps protect professional advice and service providing individuals and companies from… …   Wikipedia

  • Indemnity Insurance — An insurance policy that aims to protect business owners and employees when they are found to be at fault for a specific event such as misjudgment. Typical examples of indemnity insurance include professional insurance policies such as… …   Investment dictionary

  • Casualty insurance — Casualty insurance, often equated to liability insurance, is used to describe an area of insurance not directly concerned with life insurance, health insurance, or property insurance. It is mainly used to describe the liability coverage of an… …   Wikipedia

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