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Professional liability insurance is sometimes referred to as "malpractice" insurance. In general, it covers negligent acts or omissions by persons who hold licenses to engage in certain types of occupations, sich as physicians, attorneys. Accountants, etc.
It is not unlike liability insurance in general, in that it is intended to provide a source of recovery for a person who sustained financial loss due to the fault of the insured. However, the negligence in the case of this kind of insurance has to come within the ambit of the professional services.
Again, like other liability insurance, in addition to providing a source of recovery to the harmed, or allegedly harmed party, the insurance affords a defence to the insured. This means that the insurer hires an attorney to defend the insured, pays the attorney, pays attending court costs, and related expenses. There may be limits and conditions to the amount payable, but these are the basics.
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How is professional liability insurance different from malpractice insurance?
Malpractice insurance is a form of Professional liability insurance usually tailored for persons or firms practicing in the legal and medical professions. Malpractice insurance is the term used for Professional Liability insurance in the Medical and certain other professional fields.
Does California require attorneys to have professional liability insurance?
Yes, California does require the attorneys to have professional liability insurance.
Where to get professional liability insurance?
Professional liability insurance is something that people who are doctors or special physicians need. You can sign up for this at professional insurance companies like State Farm.
Where can I find information on professional liability insurance for physician's assistants?
You will need professional liability insurance, this will just help ensure that you are covered. A physician's assistant is usually covered through the physician's professional liability insurance but it never hurts to have your own on top of that.
What could professional liability insurance also be named?
Professional Indemnity Insurance Malpractice Insurance Errors and Omissions Insurance
You are starting a residential cleaning business Should you get general liability insurance or professional liability insurance?
You need a commercial general liability policy.
Can you list Additional Insureds on Professional Liability Insurance?
Yes, In New York, that is true for medical professional liability.
Are defense expenses paid in a contractors professional liability policy?
A Professional liability insurance Policy, as well as a contractors General Liability Insurance policy will provide coverage for the cost of legal defense.
What does Professional Liability Insurance mean?
Professional Liability Insurance (also known as Errors and Omissions Insurance) insures businesses with the defense they need if a dissatisfied client makes a claim against it.
LLC Liability Insurance?
form_title=LLC Liability Insurance form_header=Even as a limited liability company, it's important to have protection from personal liability. Have an insurance professional create a personalized quote based on your business risks. Type of Insurance Needed:= [] General Liability Insurance [] Property Liability Insurance [] Professional Liability Insurance [] Directors and Officers Liability Insurance [] Product Liability Insurance [] Other [] Not Sure Years In Business:=_ How many total people work in your business (including yourself, owners, officers, employees, contractors, etc)?=_
What is professional liability errors and omission insurance?
Professional Liability Insurance or an Errors and Omissions policy provides coverage for liabilities that may arise from the practice of your profession.
What insurance will cover tutors going to students at home?
Professional Liability Insurance.
