professional liability insurance
Professional liability insurance, also known as errors and omissions insurance, protects professionals from financial losses resulting from claims of negligence, inadequate work, or mistakes in their services. If a client believes that a service provider—like a consultant, lawyer, or doctor—failed to deliver as expected and it caused them harm or loss, this insurance helps cover legal costs and any settlements or judgments. Essentially, it provides a safety net for professionals against lawsuits that can arise from their professional activities, helping to safeguard their business and reputation.
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Professional liability insurance, often called errors and omissions insurance, protects professionals against claims of negligence or inadequate work. If a client believes that a service provided was subpar or caused them financial harm, this insurance helps cover legal fees, settlements, or judgments. It's important for those in fields like consulting, healthcare, and law, as it safeguards their assets and reputation from potential lawsuits. Essentially, it provides peace of mind for professionals by ensuring they are financially protected in case mistakes happen or unhappy clients arise.