Most professionals giving services or advice to their clients protect themselves by having Professional Liability Insurance. This insurance, also known as PLI, should protect professionals like accountants, lawyers, and physicians against claims of negligence and other cases.
PLI's terms differ depending on the field. For instance, medical practitioners have medical malpractice insurance, while real estate agents have errors & omissions (E&O) insurance. But it all has the same purpose: to eliminate possible financial loss due to not having appropriate protection.
In this article, you'll know the three most common coverages PLI offers to its subscribers.
When you take on a new venture, whether for your own company or one for which you've been employed as a contractor, you expose yourself to a great array of liabilities. Professional liability insurance protects your valuables from allegations of negligence. It is one approach to shield yourself from such possible risks.
There are several things about professional liability insurance that you should know before starting a business. Continue reading to find out how you and your business are covered.
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