A form of errors and omissions insurance, (sometimes called "malpractice" coverage for errors alleged against those in the healing and legal professions). Arbitrarily it seems, "errors and omissions" is the term applied most often to insurance covering liability for mistakes in matters affecting property, i.e., coverage for "Insurance Agents E&O," "Architects E&O" while "professional liability" is used in reference to coverages such as "Druggists Professional Liability," "Physicians and Surgeons Professional Liability," and "Lawyers Professional Liability."
a broad term applied to the liability of professional service firms or individuals arising from the conduct of their business for either providing or failing to provide a professional service
Liability that arises out of the error of a professional person in performance of his or her duties.
This policy protects against financial losses from lawsuits filed by the policyholder's clients, for professional services performed negligently or not performed at all. 'Professionals' are expected to have extensive technical knowledge or training in a particular area of expertise, and to perform the services for which they were hired, according to the standards of conduct in that profession. If a client feels a 'professional' failed to do their duties properly, they can sue for damages. When this liability is limited to acts of negligence, professional liability insurance is called errors and omissions liability.
Liability arising out of rendering or failing to render services of a professional nature.
Coverage for liability arising out of errors or omissions in the performance of professional duties in certain professions, such as doctors, lawyers, dentists and architects. It typically includes coverages for bodily injury, property damage and financial damages.
Coverage designed to protect professionals such as physicians and real estate brokers, against liability incurred as a result of errors and omissions in performing professional services.
LIABILITY arising out of the rendering of or failure to render professional services, such as a medical error by a doctor, dentist, or nurse causing injury to a patient; bad advice by a lawyer, accountant, or insurance agent causing financial damage to a client; a design error by an architect or engineer leading to the construction of a defective building. The professional liability exposure is generally in addition to the ordinary business liability exposures - e.g., a law firm would need professional liability coverage for this exposure, and they would still need general liability coverage in case someone were injured on their premises. Different terminology is used for different professions - e.g., doctors' professional liability coverage is referred to as "malpractice" insurance, and insurance agents' professional liability coverage is referred to as "errors and omissions" or "E&O" coverage.