Final answer:
Errors and omissions insurance, also known as professional liability insurance, is a policy specifically designed for professionals in various fields to protect against claims for negligence, errors, or mistakes made in the course of providing professional services.
Step-by-step explanation:
The correct answer is B) Errors and omissions insurance.
Errors and omissions insurance, also known as professional liability insurance, is a type of coverage specifically designed for professionals in various fields such as insurance agents, accountants, architects, stockbrokers, engineers, consultants, and attorneys. This policy provides protection against claims for negligence, errors, or mistakes made in the course of providing professional services.
For example, if an insurance agent makes a mistake in recommending the wrong policy to a client, resulting in financial loss for the client, the errors and omissions insurance would provide coverage for any resulting legal expenses and damages.