GENERAL KNOWLEDGE

Detailed explanation-1: -Professional Liability Insurance Policy covers all the legal liabilities arising out of negligence, omissions, or errors of any professional whilst rendering service that causes damage to the property of third-party or injury to the third-party itself.

Detailed explanation-2: -E&O insurance is a kind of specialized liability protection against losses not covered by traditional liability insurance. It protects you and your business from claims if a client sues for negligent acts, errors or omissions committed during business activities that result in a financial loss.

Detailed explanation-3: -Errors and omissions insurance and professional indemnity insurance are different names for the same type of insurance. It’s an insurance that protects your business from the cost of compensation claims when a client believes you’ve been negligent or made a mistake in your work.