In addition to business owners’ policies, professionals operating their own businesses should obtain professional malpractice liability insurance, known as errors and omissions insurance. A good malpractice insurance policy protects professionals against financial losses from lawsuits filed against them by their clients.
Frequently Asked Questions (FAQ)
Professional liability insurance helps cover you and your company if you make a mistake in your professional services.
This coverage is also known as errors and omissions insurance (E&O) or in some countries as professional indemnity insurance.
General liability covers physical risks, such as bodily injuries and property damage.
Professional liability covers more abstract risks, such as errors and omissions in the services your business provides.