Professional Liability Insurance
Professional Liability Insurance protects professionals from financial loss as a result of third party claims arising from advice or service provided by the professional. Coverage typically extends to negligence, inaccurate advice and misrepresentation. Eg. A lawyer forgets to file paperwork for purchase of property leading to their client losing out on a deal. The client sues for damages. Also referred to as Errors and Omissions (E&O) Insurance or Professional Indemnity Insurance.
See also Liability and Miscellaneous Professional Liability Insurance.