errors and omissions insurance

An agreement to indemnify for loss sustained because of a mistake or oversight by the insured — though not for loss due to the insured’s intentional wrongdoing.

• For example, lawyers often carry this insurance as part of their malpractice coverage to protect them in suits for damages resulting from inadvertent mistakes (such as missing a procedural deadline). While this insurance does not cover the insured’s intentional wrongdoing, it may cover an employee’s intentional, but unauthorized, wrongdoing. — Often shortened to E & O insurance. [Cases: Insurance 2383.]

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词条贡献者

法律翻译Iris，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与资本市场有关的法律文件。