Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Is there any difference between errors&omissions clause extension given under property insurance and E&O Liabilty cover ?

user-image
Question added by Afzal Biya Bani Shaik Gulam , Group Insurance Coordinator , Al-Muhaidib Group of Companies
Date Posted: 2014/02/08
Deleted user
by Deleted user

Under Property and also General liability insurance , the error and omissions extension is a clause provided under the policy which states that the insured shall not be prejudiced by an unintentional error or omission in reporting updates  to insurer , or by unintentionally providing incorrect values and descriptions of the risk, 

 

On the other hand, the Error and Omissions policy ( which is a separate policy by itself) is  a professional liability / indemnity policy, it covers the insured against claims that may arise out of professional services provided by the insured within the insured's scope of work and as per policy terms and conditions.

Azher Mousa
by Azher Mousa , IT Manager , Al Wathba National Insurance Co.

Both have same meaning but the difference is Errors referring to mistake either in error in design, construction est.  And omissions are refer to any changes in the plan leads to problem or effecting other stages.  

 

 

More Questions Like This