Errors and Omissions Insurance (E&O Insurance) is a form of liability protection that provides coverage against claims of professional malpractice and mistakes in business dealings made by the insured party. It is essential for professionals who provide services and advice to clients, including real estate brokers, to safeguard against potential legal actions arising from errors or omissions in their work.
Safe harbor refers to regulations or provisions designed to shield companies or individuals from legal repercussions, provided they adhere to specified guidelines or practices. These rules offer clarity and a guarantee of compliance, thus minimizing legal risk and ambiguity.
