Errors and Omissions Insurance is also known as what, and where is it provided in Manitoba?

Errors and Omissions Insurance is also known as what, and where is it provided in Manitoba?

• A. Only available to large corporations
• B. Provided by private homeowners' association
• C. Also known as professional liability insurance
• D. Required by law in Manitoba for all licensees

Answer: (C)

Errors and Omissions Insurance is a form of protection that covers professionals for claims of negligence or mistakes in the services they provide. It’s commonly described as professional liability insurance, which is why that option is the best answer. The other statements aren’t accurate: this coverage isn’t limited to large corporations, it isn’t provided by a homeowners’ association, and while some places have licensing requirements around it, the question’s focus is on the alternative name, which is professional liability insurance. In Manitoba, this protection is typically obtained through private insurers as part of a licensee’s professional protections.

Errors and Omissions Insurance is a form of protection that covers professionals for claims of negligence or mistakes in the services they provide. It’s commonly described as professional liability insurance, which is why that option is the best answer. The other statements aren’t accurate: this coverage isn’t limited to large corporations, it isn’t provided by a homeowners’ association, and while some places have licensing requirements around it, the question’s focus is on the alternative name, which is professional liability insurance. In Manitoba, this protection is typically obtained through private insurers as part of a licensee’s professional protections.