Tag: general liability insurance policy

In the world of insurance coverage, it is not uncommon for people to confuse professional liability insurance coverage and general liability insurance coverage. While nobody can doubt the importance of those two policies, few people can truly distinguish between the two. This is mostly¬†due to those policies sharing the same purpose — namely financial protection […]

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.