What is Professional Liability Insurance?
Professional Liability Insurance (PLI)—also known as Errors & Omissions (E&O) Insurance—protects businesses and professionals against claims of negligence, mistakes, or failure to deliver services as promised.
What Does It Cover?
✔ Negligence Claims – Covers lawsuits if a client claims you made a professional mistake.
✔ Misrepresentation – Protects against claims that you provided false or misleading information.
✔ Breach of Contract – Helps if a client sues you for not meeting a contract agreement.
✔ Legal Defense Costs – Pays for lawyers and settlements, even if you’re not at fault.
Who Needs It?
🔹 Doctors, Lawyers, Accountants – Risk of malpractice or bad advice.
🔹 Consultants & Financial Advisors – Clients may sue for incorrect guidance.
🔹 IT & Tech Professionals – Errors in coding, cybersecurity issues, or system failures.
🔹 Real Estate Agents – Clients could claim misrepresentation of a property.