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.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability coverage sometimes also provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice (especially medical and legal), and is also sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by insurance agents, consultants, brokers and lawyers.[1] Other professions that commonly purchase professional liability insurance include accounting and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.
Altoona
Altoona is a city in south central Pennsylvania Blair County, Pennsylvania, United States. It is the principal city of the Altoona Metropolitan Statistical Area (MSA). The population was 46,320 at the time of the 2010 Census, making it the eleventh most populous city in Pennsylvania. The Altoona MSA includes all of Blair County and was recorded as having a population of 127,089 at the 2010 Census,[6] around 100,000 of whom live within a 5-mile (8.0 km) radius of the Altoona city center according to U.S. Census ZIP Code population data. This includes the adjacent boroughs of Hollidaysburg and Duncansville, adjacent townships of Logan, Allegheny, Blair, Frankstown, Antis, and Tyrone, as well as nearby boroughs of Bellwood and Newry.
Having grown around the railroad industry,[7] the city is currently working to recover from industrial decline and urban decentralization experienced in recent decades. The city is home to the Altoona Curve baseball team of the Double A Eastern League, which is the affiliate of the Major League Baseball team Pittsburgh Pirates. It also houses the 75-plus-year-old Altoona Symphony Orchestra,[8] under the direction of Teresa Cheung. Prominent landmarks include the Horseshoe Curve, the Railroaders Memorial Museum, the Juniata Shops of the Altoona Works, the Mishler Theatre, the Cathedral of the Blessed Sacrament, and the Jaffa Shrine Center.