“Errors and omissions” refers to a type of liability insurance. Errors and omissions insurance, also termed “E&O insurance,” provides policy-holding professionals with coverage against damage suffered as a result of the professional’s errors and omissions in rendering professional services. Errors and omissions insurance only covers damage resulting from inadvertent errors and omissions (i.e., those resulting from negligence) on the insured professional’s part; it does not cover intentional wrongs.
Lawyers frequently carry errors and omissions insurance as part of their malpractice coverage.
[Last updated in July of 2021 by the Wex Definitions Team]