Professional liability insurance or errors and omissions insurance protects businesses from mistakes that they sometimes make, whether that is a professional service mistake or advice that you give that harms your client. Usually this type of insurance will cover any negligence that happens, alleged mistakes or advice that goes awry.
This type of insurance will also cover defense for any lawsuits that you may come across, whether or not you are guilty. There are many types of names for professional insurance for different types of professions, including some that are familiar like malpractice insurance for medical professionals.
Some examples of where professional liability insurance would be helpful is if you have a software product that doesn’t perform as advertised, or if a doctor performs a surgery and misplaces a tool or does more harm than good. Here are just a few of the professions where this type of coverage would be the best for your company:
Career or Business Trainers
Family or Mental Health Counselors
Real Estate Managers
Medical Practices and More
If you have more questions about professional liability insurance, feel free to contact us or ask for a quote.