Ace the 2025 RIBO Exam – Boost Your Insurance Broker Swagger!

Question: 1 / 475

Professionals like Lawyers and Insurance Agents would benefit most from which type of insurance?

Liability Insurance

Comprehensive Insurance

Errors and Omissions Insurance

Choosing Errors and Omissions Insurance is correct for professionals such as lawyers and insurance agents because this type of insurance specifically protects against claims of negligence or inadequate work. In their roles, these professionals provide advice and services that can significantly impact their clients' financial well-being. If a client believes that a mistake was made or that there was a failure to perform a service, Errors and Omissions Insurance helps cover the legal costs and any resulting damages.

Other types of insurance, while beneficial, do not directly address the risks associated with the professional services provided. Liability Insurance is broader and covers general liability claims, but it does not specifically cover professional errors. Comprehensive Insurance provides coverage for a wide range of risks to property but does not pertain to the professional conduct of individuals. Business Interruption Insurance is valuable for protecting against loss of income due to operational halts, but it does not cover errors related to professional advice or services. Thus, Errors and Omissions Insurance is the most relevant and protective option for these professionals.

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Business Interruption Insurance

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