errors and omissions insurance is called professional liability insurance which is also known as professional indemnity insurance. It helps to protect professional advice against a negligence make by a client of the company. Policyholder sells products or service of omission, and that is why financial loss happens. Liability insurance policy cannot cover these types of legal actions. Professional liability insurance can take another purpose and that time you can call it by malpractice insurance.
Rules to get Errors and Omission Insurance
• Bodily harm, sickness or disease including death, mental disorder, emotional distress or any other physiological injury is called a bodily injury. In this type of case, insurance can occur.
• Demand for monetary compensation is called claim which is a legal proceeding in a court seeking monetary damages.
• Unauthorized access, unauthorized use or transmission of a computer virus is called computer attack which alters copies, misappropriates, corrupts, destroys, deletes or damages the insured computer system.
• Any program or code that causes loss or damages to any computer system is called computer virus. If anyone is damaged by this, then Errors and Omissions Insurance can help.
• Damages mean any type of insured that is legally payable after the damage occurs. Any type of thing can get insured before damaged. After destroy of that insured thing you can get money.
• Any claim in the form of threat or a connected series of a threat to commit an international computer attack against the insured computer system is called Extortion claim. A computer virus is intentionally put into an insured computer to get an amount, and that is Extortion claim.
About Errors and Omissions Insurance Ontario
Any person can do wrong things but if you take a wrong decision of your business then it may cause serious harm toyou, and then an E&O Insurance expert can help you only, and that is why Errors and Omissions Insurance Ontario is made.