What Is Professional Liability Insurance?

Professional Liability insurance is also known as Errors & Omissions insurance or E&O insurance. It's also referred to as medical malpractice insurance…depending on the profession and can help protect you and your business against actual or alleged negligence that may occur while providing your professional services. These claims can vary from giving incorrect advice or omitting a piece of information; to failing to deliver your service within a desired timeframe. Professional Liability coverage is useful for an array of business types throughout various industries. Some examples include engineers or designers that are sued by a client for misinterpreting renderings or miscalculating specs. Or project managers that are sued for project delays and cost overruns. A Massage therapist being sued by a client for purported tissue damage following a massage. And a medical billing employee sued for incorrectly coding a medical procedure on an insurance form. These are just a handful of scenarios in which professional liability insurance could help cover expenses & damages resulting from a negligence claim.