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:
“Truth has not single victories; all things are its organs,—not only dust and stones, but errors and lies.”
—Ralph Waldo Emerson (1803–1882)
“Their errors have been weighed and found to have been dust in the balance; if their sins were as scarlet, they are now white as snow: they have been washed in the blood of the mediator and the redeemer, Time.”
—Percy Bysshe Shelley (1792–1822)
“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)
“Before I get through with you, you will have a clear case for divorce and so will my wife. Now, the first thing to do is arrange for a settlement. You take the children, your husband takes the house, Junior burns down the house, you take the insurance and I take you!”
—S.J. Perelman, U.S. screenwriter, Arthur Sheekman, Will Johnstone, and Norman Z. McLeod. Groucho Marx, Monkey Business, terms for a divorce settlement proposed while trying to woo Lucille Briggs (Thelma Todd)