Malpractice Insurance is also known as Professional liability insurance or Errors & Omissions Insurance. As professionals we are expected to perform our services in an ethical manner and with high standards. If we fail to use the degree of skill or knowledge expected of us, we can be held responsible in a court of law for any harm they cause to another person or business.
This insurance covers your exposure to liability arising from your profession, including allegations of negligence, misrepresentation and inaccurate advice. Professional liability insurance offers essential financial protections by protecting you against financial losses from lawsuits filed against you by your clients.
If you’re thinking about malpractice insurance or professional liability insurance, you’re not alone. These professions need to have professional liability insurance:
- Insurance Agents
- Home Inspectors
- Real Estate Agents