MANAGEMENT

Detailed explanation-1: -Errors and Omission (E&O) insurance falls under the category of professional liability insurance (PLI). It protects companies and employees who provide professional services from the claims of negligent actions or inadequate work from clients.

Detailed explanation-2: -Professional liability insurance is a type of business insurance that provides coverage for professionals and businesses to protect against claims of negligence from clients or customers. Professional liability insurance typically covers negligence, copyright infringement, personal injury, and more.

Detailed explanation-3: -Professional Liability Insurance Policy covers all the legal liabilities arising out of negligence, omissions, or errors of any professional whilst rendering service that causes damage to the property of third-party or injury to the third-party itself.

Detailed explanation-4: -In most cases, this insurance policy can be availed by professionals such as lawyers, doctors, architects, Chartered Accountants, etc. and also by professional organizations and bodies such as hospitals, law firms, BPOs and so on.