Answered

Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

An insurance policy that protects an insurance agent from financial losses that might be incurred if an insured files a lawsuit as a result of that agent either giving incorrect advice or not informing the client of important information is called

A. Errors & Omissions Coverage.
B. Commercial General Liability Coverage.
C. Contractual Liability Coverage.
D. Fiduciary Responsibility Coverage.

Sagot :

GinnyAnswer

Final answer:

Errors & Omissions Coverage protects insurance agents from financial losses due to incorrect advice or non-disclosure of important information, providing crucial security in the insurance industry.


Explanation:

Errors & Omissions Coverage is an insurance policy that protects insurance agents from financial losses due to incorrect advice or failure to disclose crucial information to clients. This coverage is vital for professionals in the insurance industry to safeguard against potential lawsuits from dissatisfied clients.

For example, if an insurance agent unintentionally provides inaccurate information about a policy to a client, resulting in financial harm to the client, Errors & Omissions Coverage would help cover the agent's legal fees and any potential settlement costs.

Having Errors & Omissions Coverage offers peace of mind to insurance agents, allowing them to focus on their work without the constant fear of facing significant financial liabilities from client disputes.


Learn more about Errors & Omissions Coverage here:

https://brainly.com/question/34375086


Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.