Error & Omission for Management Corporation
This insurance protects management corporations in the event of losses due to claims for any wrongful acts.
Error and Omissions for Management Corporation insurance provides protection for insured in the event of losses arising from claims for any wrongful acts committed within the coverage territory after the retroactive date. The losses shall mean the amounts which the insured is legally liable to pay in respect of settlements, awards for damage or costs, and legal costs and expenses.
Can be extended to cover:
- The entity as well as the natural persons
- Lawful spouse
- Legal representatives, heirs, assigns or estates