Also known as errors and omissions insurance, this insurance is available for a variety of occupations. It covers negligence or wrongdoing of the professional, including failure to exercise the care, knowledge or skill appropriate for the circumstances.
Most professional liability policies are claims-made, meaning the policy must be in force to afford coverage (as opposed to occurrence policies that trigger depending on when the service was rendered), though amendments may be purchased to extend dates when claims can be brought. Some of the professional liability formats available include:
- Architects and engineers
- Beauticians and cosmetologists
- Computer programmers
- Directors and officers
- Police or law enforcement