Professional Liability Insurance, also known as Errors and Omissions (E&O) Insurance, provides protection for professionals and businesses against claims of negligence, mistakes, or failure to deliver services as promised. It covers legal defense costs and compensation arising from professional errors that cause financial loss or damage to clients.
This insurance is particularly valuable for professionals such as consultants, architects, lawyers, engineers, and medical practitioners — where even a minor oversight can lead to costly and reputation-damaging legal claims.
It covers legal defense costs, settlements, and damages resulting from professional errors, negligence, misrepresentation, or failure to meet contractual obligations.