PROFFESSIONAL LIABILITY INSURANCE

Professional Liability insurance is a kind of insurance which is designed to safeguard professional organizations as well as professionals from bearing financial losses due to their own negligence. Professional liability insurance consists of many segments, and it is also known as malpractice, errors and omissions or E&O insurance.

A lot of different companies or professionals present themselves to their clients as experts in a particular field. It can always happen that any professional may fail to meet their clients' expectations or is not able to deliver the work on time which can result in a professional liability claim or lawsuit. This type of cover is designed to save the professionals from the considerable financial loss which can be a result of a lawsuit. No matter whose fault it is, legal claims cases can be time consuming, costly and not to forget, damaging to the reputation. By owing a professional liability insurance, in case f a lawsuit, the insurance company will pay the entire claims amount as per the policy and also the entire legal fees to defend the case in the court of law.

Posted in: Legal Professional Insurance,Professional Indemnity