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The insurance covers financial loss caused to a third party as a result of the insureds advisory operations that the insured is liable for according to legislation or the agreement in force errors and omissions insurance is tailored per line of business or company so that industry specific contractual practices are taken into consideration. The insurance can be extended into extensive all risks insurance which covers all damage caused by breakage business interruption this insurance provides stability even if operations are disturbed or interrupted ensuring that the companys competitive and market positions are maintained in spite of property damage. History of insurance industry starts very ancient times marine insurance is the oldest form of insurance and probably began in northern italy sometime during the 12th century the great fire of london in 1666 manifested the necessity of fire insurance the earliest life insurance policy record dates back to 1583. Working as an insurance agent or broker is usually the first thing that comes to mind when people think of insurance jobs but there are several non sales roles that can help you break into the insurance industry when youre searching for entry level jobs in the insurance field you can get your career off the ground with a job in marketing . Yes you read that right the way the insurance industry makes money profitable as it may be must be altered to better serve consumers far from wishful thinking this is absolutely necessary if the industry is to survive a coming onslaught from innovative companies trying to disrupt insurance