E&O
Business & Finance abbreviation · Insurance
| Stands for | Errors and omissions insurance |
|---|---|
| Categories | Business & Finance |
E&O stands for Errors and omissions insurance, an insurance abbreviation.
Professional liability coverage that protects businesses and professionals, such as consultants, real estate agents, insurance agents and software firms, against claims that their advice, services or mistakes caused a client financial loss.
Example: Our E&O policy paid the defense costs when a client claimed our audit missed the error.
Usage notes
E&O policies are usually written on a claims-made basis, so coverage depends on having a policy in force when the claim is made; buying "tail" coverage protects against claims after retirement or a business sale. The same coverage is called professional indemnity (PI) in the UK, Australia and other Commonwealth countries, and malpractice insurance for doctors and lawyers.
Related abbreviations
More insurance abbreviations
- CSV – Cash surrender value
- CTP – Compulsory third party insurance
- D&O – Directors and officers liability insurance
- DOI – Department of insurance
- DOL – Date of loss
- DP-3 – Dwelling property 3 special form
- E&S – Excess and surplus lines
- EL – Employers' liability insurance
- EOI – Evidence of insurance
- EPLI – Employment practices liability insurance
- FIA – Fixed indexed annuity
- FNOL – First notice of loss