A Professional’s Quick Guide to Professional Liability Insurance – Part 1 of 2
Professional liability insurance, often presented in the form of an “errors and omissions” policy, is a form of liability insurance providing coverage for claims made as a result of professional advice or services. Professionals including attorneys, accountants, engineers, architects, insurance brokers/agents, and real estate brokers/agents should maintain professional liability insurance to protect their businesses and assets. This blog entry will provide a quick, general guide to some key aspects of most professional liability insurance policies. Professionals are encouraged to refer to their own policies and seek guidance from their own insurance brokers/agents to understand the specific terms and conditions of coverage for their policies.