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.
Capitola
Capitola is a city in Santa Cruz County, California, United States, on the coast of Monterey Bay. The population was 9,918 at the 2010 census.
The original settlement now known as Capitola grew out of what was then called Soquel Landing. Soquel Landing got its name from a wharf located at the mouth of Soquel Creek. This wharf, which dates back to the 1850s, served as an outlet for the produce and lumber grown in the interior. In 1865, Captain John Pope Davenport, a whaleman at Monterey, moved his operations to be near the wharf. Unable to capture any whales, he moved his operations the following year to Point Año Nuevo.[4][5]
In 1869, Frederick A. Hihn, who owned the property in the vicinity of the wharf, decided to develop it as a seaside resort. At first he leased the area to Samuel A. Hall and the area became known as Camp Capitola. Most authorities believe that it was Hihn who chose the name of Capitola, but they are unsure as to why he did so. Several possibilities have been asserted, one being that it was named for the heroine of The Hidden Hand, a novel by the popular author E.D.E.N. Southworth, favored by Hall’s daughter Lulu. Capitola is known as the oldest beach resort on the West Coast.[6]
Capitola is a popular tourist town because of its trendy shops and restaurants on the shore directly connecting to a fishing wharf and its large, sandy beach.
Capitola lies west of the census-designated area of Aptos and east of the census-designated place of Live Oak.