Errors and Omissions Insurance
Errors and omissions (E&O) insurance, which may exclude negligent acts other than errors and omissions (“mistakes”), is most often used by consultants and brokers and agents of various sorts, including notaries public, real estate brokers, insurance agents themselves, appraisers, management consultants and information technology service providers (there are specific E&O policies for software developers, website developers, etc.), architects, landscape architects, engineers, attorneys, third-party business administrators, quality control specialists, nondestructive testing analysts, and many others. A mistake which causes financial harm to another can occur in almost any transaction in many professions.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability coverage sometimes also provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice (especially medical and legal), and is also sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by insurance agents, consultants, brokers and lawyers.[1] Other professions that commonly purchase professional liability insurance include accounting and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.
Lufkin
Lufkin is a city in and the county seat of Angelina County in eastern Texas, United States.[3] This city is 120 miles (190 km) northeast of Houston. Founded in 1882, the population was 35,067 at the 2010 census.[4]
Lufkin is situated in Deep East Texas.
The city is named for Abraham P. Lufkin, a cotton merchant and Galveston city councilman. Lufkin was the father-in-law of Paul Bremond, president of the Houston, East and West Texas Railway which developed the town.
In 1906 while living in Lufkin, writer Katherine Anne Porter married her first husband John Henry Koontze in a double ring ceremony that also saw her sister Gay Porter marry T.H. Holloway. The minister who presided over the ceremony was Rev. Ira Bryce, serving at the time at Lufkin’s First Methodist Church.
In 1907 Allan Shivers the 37th Governor of Texas was born in Lufkin. He served as governor from 1949 to 1957.
Debris from the Space Shuttle Columbia disaster fell over the Lufkin area on February 1, 2003.
Lufkin celebrated its 125th anniversary in October 2007.