Professional Liability Insurance
What is Professional Liability Insurance?
Professional liability insurance, also known as professional indemnity or errors and omissions (E&O) insurance, is a type of liability insurance that protects professionals and businesses that provide advisory, consulting, or service-based work from financial losses due to claims of negligence, errors, omissions, or failure to perform their professional duties adequately. This insurance covers legal defense costs, settlements, or judgments arising from such claims, even if the claim turns out to be groundless.