What type of liability insurance includes coverage for agents and brokers’ errors and omissions?

Professional Liability Insurance is designed specifically to protect professionals, including agents and brokers, from claims of negligence, errors, or omissions that occur while providing their professional services. This type of insurance is crucial for those in fields where their expertise is relied upon by clients, as it covers the financial repercussions that may arise from accusations of inadequate or improper professional conduct.

In the context of agents and brokers, Professional Liability Insurance provides coverage not just for errors made in documentation or advice but also for any failure to act that could lead to financial losses for clients. This ensures that professionals can operate without the constant worry of lawsuits from disgruntled clients due to perceived mistakes.

Other types of liability insurance serve different purposes. General Liability Insurance typically covers bodily injury and property damage claims but does not extend to professional mistakes. Automobile Liability Insurance pertains to accidents involving vehicles and addresses damages and injuries resulting from car accidents without focusing on professional service errors. Umbrella Liability Insurance provides an extra layer of coverage above and beyond standard policies but is not specifically tailored to address errors and omissions in professional services.