Nite
Valued Contributor
Professional liability insurance, also known as Errors and Omissions insurance, is a type of coverage that provides protection for professionals from potential claims made by clients for negligence, errors, or omissions in the services provided. This insurance is important for professionals who provide advice or services to clients, such as doctors, lawyers, accountants, consultants, architects, engineers, and others.
Professional liability insurance commonly provides protection for costs associated with legal defense, settlements, and judgments stemming from covered claims. It helps protect professionals from financial losses due to lawsuits alleging mistakes or negligence in their professional services. The coverage may vary depending on the specific policy and profession but generally includes protection against claims of errors, negligence, misrepresentation, violation of good faith, inaccurate advice, and more.
Professional liability insurance commonly provides protection for costs associated with legal defense, settlements, and judgments stemming from covered claims. It helps protect professionals from financial losses due to lawsuits alleging mistakes or negligence in their professional services. The coverage may vary depending on the specific policy and profession but generally includes protection against claims of errors, negligence, misrepresentation, violation of good faith, inaccurate advice, and more.
