Insurance agents errors and omissions

{
  "id": "MLC-T-INS-001852",
  "term": "Insurance agents errors and omissions",
  "field": "Insurance and risk management",
  "definition": "A form of professional liability insurance that protects insurance agents and brokers from claims of negligence, errors, or failure to perform their professional duties. This coverage responds to allegations that the agent provided incorrect advice, failed to secure appropriate coverage for a client, or made a clerical mistake, resulting in a financial loss for the client. Policies are written on a claims-made basis, covering only claims made and reported during the policy period.",
  "url": "https://mlchart.com/terminology/insurance/insurance-agents-errors-and-omissions/"
}