Legal Dictionary of Pakistan

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.