Errors and omissions insurance legal definition of errors and omissions insurance
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errors and omissions
n. short-hand 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 which amount to negligence.
References in periodicals archive
AIP provides errors and omissions insurance
, crime insurance, cyber insurance and statutory surety bonds to title professionals.
NEA specializes in errors and omissions insurance
coverage for business professionals such as insurance agents, investment advisors, real estate agents, tax preparers and bookkeepers.
What it is: Errors and omissions insurance
-- also called professional liability insurance -- covers liability arising from the performance of specialized or professional services.
Errors and omissions insurance
is the coverage that banks would turn to first in connection with the foreclosure litigation issue.