What is errors and omissions (E&O) insurance in the context of Alberta real estate?
Correct Answer
B) Professional liability insurance that protects real estate professionals and their clients against losses from professional errors or negligence
Errors and omissions (E&O) insurance is professional liability insurance required for all licensed real estate professionals in Alberta. It provides coverage for claims arising from errors, omissions, or negligent acts in the course of providing real estate services. This insurance protects both the professional and the consumer.
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