MANAGEMENT

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: -Liability insurance is the type of policy that protects the insured against financial liabilities resulting from injuries to any person as well as property damage. Apart from this, liability insurance provides coverage for any legal cost or debt that the responsible party is found legally guilty of.

Detailed explanation-3: -Errors and Omission (E&O) insurance falls under the category of professional liability insurance (PLI). It protects companies and employees who provide professional services from the claims of negligent actions or inadequate work from clients.

Detailed explanation-4: -Professional Liability Insurance (PLI), is also known as Professional Indemnity Insurance (PII) or as Errors & Omissions (E&O). This is a liability insurance cover that protects individuals from professional risks and related legal expenses.

Detailed explanation-5: -The two most common types of indemnity insurance include malpractice insurance and errors & omissions insurance.