The world of insurance can be a complicated maze of initials and acronyms, which are often seemingly used to confuse the insurance buyer. Among the hodge-podge of acronyms, nicknames and “short-fors” are E & O and D & O which, when used together, have comfortably sunk into the industry lexicon as meaning anything and everything professional.
Errors and Omissions insurance (E&O) and Directors and Officers Liability Insurance (D&O) have certainly undergone change over the years. D & O once referred to a distinct monoline (single coverage) product that protected the directors and officers of a corporation, usually publicly traded, against claims of malfeasance in protecting the interests of shareholders of the corporation. In other words, directors and officers of the corporation are expected to use reasonable care in making decisions on behalf of the corporation, providing shareholders with maximum value. Failure to disclose information to the public is a common allegation against directors and officers of public corporations. Just think Enron.
Nowadays, D&O insurance is purchased by public and private corporations, and the menu of coverages available to corporations on a bundled basis is staggering. Along with the D & O insurance you can often find Kidnap & Ransom (K & R) insurance, EPLI (Employment Practices Liability Insurance), and a host of others.
Often, E & O insurance can be purchased on the same bill as the D & O if the company provides a service that makes it eligible for E & O insurance, but typically, E & O is highly specialized and is purchased separately on a monoline basis. That begs the question: What is E & O?
Professional Liability
Errors & Omissions, often referred to as Professional Liability Insurance or formerly called Malpractice Insurance, can cover professional and service providers across a broad spectrum of industries. We’re all familiar with the trials and tribulations that doctors are facing today in the Medical Malpractice arena (or Med Mal if you prefer the “short for”). Other professionals that carry this type of coverage include accountants, architects, engineers, and lawyers. These classes are among the more traditional, but anyone who relies on specialized knowledge to provide a service is at risk of a lawsuit for which E & O coverage is available and essential in the litigious world we live in today. Coverage is highly recommended for real estate agents, mortgage brokers, barbers and beauticians, morticians, travel agents, teachers, fitness trainers, printers, temporary staffing firms and recruiters. Just about any kind of consultant, from computer to marketing to management consultants, and so on, needs the security of this coverage. In fact, consultants are often required to carry the coverage by contract if their clients are midsize or large corporations. This requirement provides one for companies to manage their risk.
Many people are under the impression that their General Liability Insurance, or in the case of a home-based business, Homeowners Insurance, will provide all the necessary coverage. Not so. These plans are appropriately designed to cover perils like bodily injury, i.e., a slip and fall in your office or on your property, but they are rarely capable of handling the kinds of exposure that E & O covers, namely financial loss. For example, if you are a real estate agent and you are accused of misrepresenting a property you have shown to your client, resulting in a bad decision with respect to the purchase or in some cases sale of a residential or commercial property, you can almost count on being sued. Since the allegations have to do with the provision of expertise and the loss is a financial one, don’t expect it to be covered under the General Liability policy you purchase unless there is a specific rider. Some insurance companies will include E & O coverage for a handful of classes such as printers or barbers/beauticians on a standard General Liability policy, but these are usually exceptions rather than the rule.
insurance beyond repair, beyond insurance whitby, insurancebut not registered keeper, insurance
but no license, insurance but no tag, insurancebut no car, insurance
but no registration, insurance
but no mot, insurance butno tax, insurance but for test, insurance
but no vehicle, insurance by the hour
insurance from provisional license to full, insurance fromexchange of contracts, insurance
from the general, insurance from Costco, insurancefrom banks, insurance
from work, insurance from dealership
Keywords
related to the post:
insurance about us, insurance about us page, insurance aboutinformation, insurance about car, insurance about dogs, about insurance company, about insurance policy, about insurance pdf, about insurance in india, aboutinsurance industry in india, insurance above 65 years old, insurance aboveground pool, insurance above fdic limits, insurance above 26th parallel, insuranceabove 60 years, above insurance, above insurance agency, above insurancerichland hills tx, trekking insurance above 5000m, trekking insurance above4000m, insurance across state lines, insurance across state lines
executiveorder, insurance across America, insurance across state lines law, insuranceacross state lines won't
work, insurance across state lines myth, insuranceacross state lines aca, insurance across states, insurance across state borders, insurance across state
linesobamacare, insurance after drink driving, insurance after a ban, insurance after driving ban, insuranceafter accident, insurance
after cancer, insurance
after passing driving test, insuranceafter drug driving, insurance
after surgery, insurance after heart attack, insuranceafter selling car, insurance against redundancy, insurance against twins, insuranceagainst illness, insurance
against tax investigation, insurance against losingyour job, insurance against cancer, insurance against inheritance tax, insuranceagainst dementia, insurance against gdpr, insurance against being sued, insurancealong with home loan, property insurance along with home loan, insurancecompanies along mombasa road, ride along insurance, insurance to go along withmedicare, take along insurance, amid insurance, insurance around me, insurancearound the world, insurance around my area, insurance around the arc detriomphe, insurance around boston, insurance around the corner, insurancearound Stafford, insurance around, car insurance around me, insurance companiesaround me, insurance as a service, insurance
as a second driver, insurance as asole trader, insurance as you go, insurance
as a new driver, insurance asa platform ,insurance
as a contractor, insurance as a learner driver, insuranceas
a dog walker, insurance as a social security tool, insurance at work, insuranceat 17, insurance at 21, insurance at 25, insurance
at Lloyds, insurance at riskmeaning, insurance at exchange of contracts, insurance
at Walmart, insuranceat 26, insurance
at fault, insurance before buying car, insurance before tax, insurancebefore exchange, insurance before mot, insurance
before passing test, insurancebefore registration, insurance before medicare, insurance before buying usedcar, insurance before settlement, insurance
before title transfer, gapinsurance
behind on, payments insurance for behind the wheel
test, insurancecompanies behind obamacare, insurance for pull behind camper, math
behindinsurance, principle behind insurance, theory behind insurance, insurance hitfrom behind, idea
behind insurance, history behind insurance, below insuranceservices, below insurance Fostoria, health insurance below povertyline, car insurance below 25, insurance claim below deductible, flood insurancebelow grade, national insurance below primary threshold, insurance for belowpoverty line, mortgage insurance below 20, bike insurance below 500, insurancebeside, insurance besides obamacare, health
insurance besides obamacare, insurance options besides, bam a care, other
insurance besides obamacare, healthinsurance besides cobra, insurance jobs besides sales, other insurance besidesmedicare, insurance
options besides cobra, car insurance besides icbc, otherhealth
insurance besides obamacare, insurance between exchange and
completion, insurancebetween exchange of contracts and
completion, insurance between jobs, insurancebetween job changes, insurance between jobs 2018, insurance between retirementand medicare, insurance
between 62 and 65, insurance between jobs cobra, insurancebetween jobs 2017, insurance between, insurance beyond digital, insurancebeyond
economical repair, insurance & beyond, insurance
beyond the gravelyrics, insurance beyond fdic, insurance & beyond llc, insurance beyondmedicare, insurance
beyond the grave
insurance by the day, insurance by postcode, insurance byreg, insurance
by jack, insurance by the mile
does insurance come out before taxes, does insurance comeout on weekends, does
insurance come with rental cars, insurance losses come inhow many types, does insurance come with car hire, insurance
down under, insurancedown payment, insurance down under tamworth, insurance
down payment refund, insurancedown syndrome, insurance down, insurance down payment for car, down insurance Downpatrick, insurance
goes down at 25, auto insurance down payment, insurance duringbuilding works, insurance
during renovation, insurance
during extension, insuranceduring
renovation work, insurance during pregnancy, insurance during houseextension, insurance during house renovation, insurance
during construction, insuranceduring home renovation, insurance during pregnancy india, except insurance, insurancecompanies
that except pitbulls, insurance
for a day, insurance
for youngdrivers, insurance
for new drivers, insurance for a week, insurance
for car, insurance for first time drivers, insurance
for 17 year old, insurance for a month, insurance
for learner drivers, insurance for selfemployed, insurance from exchange, insurance
from exchange or completion
insurance
from another state, insurance in Spanish, insurancein
uk, insurance in French, insurance in blackjack, insurance in german, insurancein
Italian, insurance in islam, insurance
in America, insurance in sport, insurancein
the aggregate, insurance inside or outside super, insurance inside super, insuranceinside
sales, insurance inside heb, insurance inside vs outside super, insuranceinside
smsf, insurance inside sales salary, insurance
inside superstore, insuranceinside and outside super, insurance insider
insurance less depreciation, insurance
less, insurance lessthan excess, less
insurance car, less
insurance premium, less insurance company,insurance
4 less austin tx, insurance for less gun barrel city, insurance
likefor like, insurance like cuvva, insurance like for like replacement, insurancelike Aflac, insurance
like metromile, insurance
like geico, insurance like thegeneral, insurance
like aaa, insurance like lemonade, insurance
like medishare, insurance mid check, insurance
mid update, insurance mid term adjustment
mid
insurance factory, mid insurance details, mid
insuranceregister, minus insurance agency, minus
insurance, travel
insurance minusmedical, reggie minus insurance, peter
minus insurance, insurance
near me, insurancenear me car, insurance near me cheap, insurance near me open now, insurancenear ne, insurance
near my location, insurance nearby, insurance
near me auto, insurancenear
dmv, insurance near me icbc, insurance
of America, insurance of car, insuranceof the works, insurance
of jewellery, insurance of a new car, insurance ofworks in construction, insurance of car in uk, insurance of unoccupied property,insurance
of electric cars, insurance
of bike, insurance off road, insuranceoff
balance sheet items, insurance
off exchange, insurance
off marketplace, insuranceoff piste,offshore
insurance, insurance off road bikes, insurancewrite
off, insurance cooling off period, insurance write off cars for sale, insuranceon
parents car, insurance on phone, insurance
on someone else's car, insuranceon
fiat 500, insurance on risk, insurance on a moped, insurance
on audi a1, insuranceon demand, insurance on audi a3, insurance
on leased car, insurance opposite, insuranceopposite word,insurance
out of pocket, insurance
out of network, insuranceout of state, insurance
out of pocket definition, insurance out of network meaning, insuranceout
of state license, insurance
out of country, insurance out of work, insuranceout of pocket stop loss, insurance out of pocket expense, insurance
outside thescope of vat, insurance
outside of marketplace, insurance outside of work, insuranceoutside super, insurance outside open enrollment, insurance outside ofobamacare, insurance
outside superannuation, insurance outside of aca, insuranceoutside
of healthcare.gov, insurance outside home, insurance over 80, insuranceover
60, insurance over 25, insurance
over 75, insurance over 50s, insuranceover mileage, insurance
over 70 years old, insurance over the phone, insuranceover
65, insurance over 30, insurance
past tense, insurance past questions, insurancepast
26, insurance past papers, insurance
past posting, insurance past age 26, insurancepast
due, insurance past present and future, insurance past participle, pastinsurance claims, insurance
per month, insurance
per hour, insurance per day, insuranceper
mile, insurance per diem, insurance
per month car, insurance per diem feesowed, insurance per occurrence, insurance
per pay period, insurance per capita, insurance
plus, ryanair, insurance plus aberdeen sd, insurance plus groesbecktx, insurance plus investment, insurance plus login, insurance plus kewanee il, insurance plus yoga, insurance plus alvin tx, insurance plus aurora il, insuranceplus investment plans, insurance post office, insurance
post awards, insurancepost, agazine, insurance post news, insurance post twitter, insurance post code,insurance post logo, insurance post events, insurance
post claims awards 2017, insurancepost linkedin, insurance
pre existing conditions, insurance pre existing medical conditions, insurance
pre authorization, insurance pre licensing course, insurance pre approval, insurance
pre tax, insurance pre authorization form, insurancepre
licensing course near me, insurance pre test, insurance pre licensingcourses in Illinois, insurance
pro rata calculator, insurance pro ratacalculator excel, insurance pro
agencies, insurance pro shop, insurance
problog, insurance pro group, insurance pro rata, insurance pro rata wheel, insurancepro login, insurance
pro agencies reviews, insurance
premiums since obamacare, insurancerates since obamacare, insurance
profits since aca, insurance profits sinceobamacare, insurance provider since 1850, insurance premiums since aca, insurancecosts
since obamacare, insurance premiums since 2000, insurance costs since aca, insurance business since 1991 in Ethiopia, insurance
cheaper than geico, insurance other than obamacare, insurance
more than better insurance than usaa, insurancecheaper than the general, insurance morethan car payment, cheaper insurance than usaa, insurance more than car value, insuranceother than health schedule c, insurance other than collision, insurance throughbank, insurance
through broker, insurance through Barclays, insurance throughcredit card, insurance through natwest, insurance through work, insurancethrough
the state, insurance through the marketplace, insurance through aarp, insurancethrough superannuation, insurance
till 26, insurance till what age, insurancetill 26 years old, insurance
till your 26, insurance till you are 26, insurancetill 26, even when married,
insurance till 25, insurance
till 29, terminsurance till what age, term insurance till 99, insurance
to go, insurance togo reviews, insurance to drive in Europe insurance to go mobile phone, insuranceto turkey, insurance
to cover hire car excess, insurance to go discount code, insuranceto go contact, insurance
to cover inheritance tax, insurance to cover buildingwork, travel insurance toward road sunderland, attitude
toward insurance, behaviortoward insurance, insurance under 21, insurance under 25, insurance underwriter,insurance under nec3, insurance
under parents name, insurance under jctcontracts, insurance under which head in tally, insurance under misp, insuranceunder parents, insurance under gst, insurance until 26,
insurance until 26 or27, insurance until the age of 26, insurance until 26 trump, insurance
until 26years old, insurance
until 27, insurance until you are 26, insurance
until 29, insuranceuntil 26 repeal, insurance
until 25, insurance up to age 26, insurance up toage 26 law, insurance
up after accident, insurance up, up insurance agency, upinsurance
reviewer, insurance pick up lines, insurance
startup, insurancelookup, insurance going up, insurance upon death, insurance upon completion, lifeinsurance upon death, mortgage insurance upon death, health
insurance upontermination, insurance
stratford upon avon, car insurance upon death, homeinsurance
upon death, buildings insurance upon exchange, insurance upside downcar loan, upside
insurance, gap insurance upside down loan, gap insuranceupside down trade in, car insurance upside down, insurance versus assurance, insuranceversus assurance difference, insurance
versus bond, insurance versus ndemnification,insurance
via ferrata, insurance
via mobile phone, insurance via credit card, insurancevia
internet, insurance via marketplace, insurance via superannuation, insurancevia smsf, insurance via the voluntary market, insurance via turo, insurance
vsassurance, insurance
vs reinsurance, insurance vs banking, insurance
vswarranty, insurance vs assurance uk, insurance
vs banking career, insurance vsinvestment banking, insurance vs guarantee, insurance
vs investment, insurancewith black box, insurance with partners, insurance with reviews, insurance
withmedical conditions, insurance without black box, insurance with cancer, insurancewith sapphire, insurance
with 6 points, insurance with convictions, insurancewithpromotional
code, insurance within
super, insurance within the firm, insurancewithin smsf, insurance
within superannuation fact sheet, insurance within abusiness,
insurance within city limits, insurance within corporation, withininsurance period, travel insurance within Australia, travel
insurance within Canada, insurance without mot, insurance
without tax, insurance
without excess, insurancewithout prejudice basis, insurance without license, insurance without owning acar, insurance without cbt, insurance
without deposit, insurance withoutregistration number,
insurance worth it, insurance worth of car, worthinsurance
owensboro ky, worth insurance agency, worth insurance group, worthinsurance sylvester ga, worth insurance iphone, gap insurance worth it, tripinsurance
worth it, pet
insurance worth it,
0 Response to "What Is E&O Insurance?"
Posting Komentar