Insurance Glossary

Professional Liability Insurance

Business

Definition

Also known as Errors and Omissions (E&O) insurance, this coverage protects professionals against claims of negligence, mistakes, or failure to perform professional duties.

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Related Terms

Malpractice Insurance
Professional liability coverage for licensed professionals such as doctors, lawyers, and accountants, protecting against claims of negligence or inadequate professional services.
Commercial General Liability
Insurance that protects businesses against claims of bodily injury, property damage, personal injury, and advertising injury that occur during normal business operations.
Accident Insurance
Insurance coverage for unforeseen bodily injury resulting from an accident.
Liability Coverage
Insurance that covers legal responsibility for injuries or damage caused to others or their property.
Liability Limit
The maximum amount an insurance policy will pay for covered liability claims.
Term Life Insurance
Life insurance coverage for a specified period of time, providing a death benefit if the insured dies during the term.
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