Malpractice insurance provides coverage for professionals against claims of negligence, mistakes, or failure to perform their professional duties, protecting them from potential legal and financial repercussions.
Professional Indemnity Insurance (PII) is a form of third-party insurance that covers professionals, such as accountants or auditors, against compensatory claims arising from negligence or defective advice.
Professional liability arises when an individual, presenting themselves as an expert in a particular field, is alleged to have committed negligent acts or omissions while rendering their professional service. This form of liability is prevalent among professionals such as physicians, attorneys, and Certified Public Accountants (CPAs).
Professional Liability Insurance provides specialized coverage for professionals against claims arising from errors, omissions, or negligent acts in the course of their professional activities. It is essential for individuals with specialized expertise as basic liability policies do not cover professional liabilities.
