Definitions for "Errors and Omissions"
Errors and omissions is another phrase for malpractice insurance, which covers professionals in the legal and medical fields for claims of professional errors and negligence.
Insurance for the liability of a professional for losses that occurred because of his or her errors or oversights.
The clause in a reinsurance treaty which stipulates that in the event of inadvertent error or omission, the reinsurer shall not be prejudiced in the fulfillment of the agreement, provided that any error or omission shall be corrected as soon as discovered.
Generally refers to design deficiencies in the plan specification s or contract documents which must be corrected in order for the project to be built or function as intended. [D04976] PDG
insurance available to authors concerned about possible lawsuits resulting from their work.