[E041]
1) A form of professional liability insurance which provides coverage for mistakes made by a person or persons in a profession not involved with the human body, such as lawyers, architects, engineers, or for mistakes made in a service business, such as insurance, real estate, and others.
(See Nonrecording Chattel Mortgage Policy.)
2) A form of coverage for financial institutions protecting against loss to lending institutions which fail to effect insurance coverage.
(See Malpractice, and Medical Malpractice.)
Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100