Professional liability insurance (PLI) protects accountants, lawyers, and doctors from client negligence claims.
Professional liability insurance has different titles for different professions, such as medical malpractice insurance.
Many professionals think their General Liability insurance provides enough legal protection.
Many General Liability insurance eliminate mistakes and omissions coverage.
Coverage includes legal defence fees, regardless of the allegations. Errors and Omissions Insurance covers judgements against you.
Professional liability policies normally cover only claims made during the policy period.
Pre-activation incidents may not be covered, but some plans have a retroactive date.
Some policy wordings meet a minimum approved wording, making them easier to compare. Others differ greatly in the coverages they offer.