Errors And Omissions Liability Insurance
Definition of "Errors and omissions liability insurance"
Policies generally available to the various professions that require protection for negligent acts and/or omissions resulting in bodily injury, personal injury, and/or property damage liability to a client. For example, insurance agents are constantly exposed to the claim that inadequate or improper coverage was recommended, resulting in the client suffering a loss of indemnification. If sustained, the agent (or the carrier) would have to make good the claim of the client without the adequate insurance coverage.
Popular Insurance Terms
Payment of that portion of the annual premium by the employee necessary to cover the PS-58 cost for that given year. Any unpaid premium balance for that particular year is paid by the ...
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Circumstance in which an insurance company can issue life or health insurance to an applicant based on standards set by the company. ...
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Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
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