Question

Insurance agents can be held legally liable for the consequences of any errors or omissions they have made while conducting their business. For this reason, insurance agents need to carry professional liability insurance which is called errors and omissions insurance.

A. True
B. False

Answer 1

Insurance agents can be held legally liable for errors or omissions they make while conducting their business, so they need to carry professional liability insurance.

Step-by-step explanation:

Insurance agents, like professionals in many other fields, can face liability issues in the course of their work. Liability for insurance agents may arise from various circumstances, and the potential sources of liability.

Yes, insurance agents can be held legally liable for any errors or omissions they make while conducting their business. This is why insurance agents need to carry professional liability insurance, also known as errors and omissions insurance.