What is professional liability insurance?
Otherwise known as malpractice insurance, professional liability insurance protects your business against claims resulting from professional services rendered by you to your clients. This type of insurance would cover you and your employees in the event that someone claims you incorrectly performed or failed to perform your professional duties. Most business policies do not include coverage for professional services. This coverage can, however, be purchased independently.
A. Otherwise known as malpractice insurance, professional liability insurance protects your business against claims resulting from professional services rendered by you to your clients. This type of insurance would cover you and your employees in the event someone claims you incorrectly performed, or failed to perform, your professional duties. Most business policies exclude coverage for professional services. This coverage can, however, be purchased independently.
Professional Liability Insurance (EO insurance) protects your company from claims if your client holds you responsible for errors, or the failure of your work to perform as promised in your contract. Coverage includes legal defense costs – no matter how baseless the allegations. Professional Liability insurance will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy. Professional Liability Insurance Insurance coverage extends to both W2 employees and 1099 subcontractors, and can be worldwide in scope.
Professional Liability Insurance covers individuals who provide professional services, such as physicians and lawyers, from losses they incur as a result of being held responsible for the losses of their clients. This could result from claims of malpractice, error, or mistake committed or alleged to have been committed by the insured in his professional capacity. See Errors and Omissions – E&O Professional liability insurance is one form of protection for professionals and for their clients. Coverage will shield personal assets and will help maintain a good reputation through the defense of allegations of wrongdoing which might be frivolous or false. For the client who has suffered some damages through the actions of a professional, liability insurance will ensure that there are adequate funds available to make amends for the wrong that has been done. A professional liability policy covers errors, omissions or negligent acts which may arise from the normal or usual duties carried out b
