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Professional Liability Insurance/PLI
(Errors and Omissions Insurance)
- Flawed professional advice and services that may have resulted in financial loss to the customer or client.
- Protects professional individuals or companies from responsibility of the full cost of defending against a negligence claim and damages awarded in such a civil lawsuit.
- Professional liability insurance covers the costs of judgments, settlements and legal defense.
- Damages paid under a professional liability policy are typically financial rather than physical.