Errors and Omissions Insurance
Errors and omissions (E&O) insurance, which may exclude negligent acts other than errors and omissions ("mistakes"), is most often used by consultants and brokers and agents of various sorts, including notaries public, real estate brokers, insurance agents themselves, appraisers, management consultants and information technology service providers (there are specific E&O policies for software developers, website developers, etc.), architects, landscape architects, engineers, attorneys, third-party business administrators, quality control specialists, nondestructive testing analysts, and many others. A mistake which causes financial harm to another can occur in almost any transaction in many professions.
Read more about this topic: Professional Liability Insurance
Famous quotes containing the words errors and, errors, omissions and/or insurance:
“There are two equal and opposite errors into which our race can fall about the devils. One is to disbelieve in their existence. The other is to believe, and to feel an excessive and unhealthy interest in them. They themselves are equally pleased by both errors and hail a materialist or a magician with the same delight.”
—C.S. (Clive Staples)
“Science in the modern world has many uses; its chief use, however, is to provide long words to cover the errors of the rich.”
—Gilbert Keith Chesterton (1874–1936)
“There is a terrible blindness in the love that wants only to accommodate. It’s not only to do with omissions and half-truths. It implants a lack of being in the speaker and robs the self of an identity without which it is impossible for one to grow close to another.”
—Alexander Theroux (b. 1940)
“Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.”
—John Dos Passos (1896–1970)