Professional liability insurance, also known as errors and omissions (E&O) insurance, is a type of insurance that protects professionals from financial loss if they are sued for negligence or malpractice. This type of insurance is important for any professional who provides services to clients, as it can help to protect them from financial ruin in the event of a lawsuit.
Professional liability insurance can cover a variety of expenses, including legal fees, settlements, and judgments. It can also help to protect professionals from reputational damage and loss of income. In many cases, professional liability insurance is required by law or by professional organizations.