@Dr Bhavdeep Ahuja
Subscribe To The Channel: https://www.youtube.com/c/drbhavdeep
Professional Indemnity Insurance (PII) Or
Professional Liability Insurance (PLI)
but more commonly known as
Errors & Omissions (E&O) in the USA
It is a form of liability insurance which helps protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client and damages awarded in such a civil lawsuit.
The coverage focuses on alleged failure to perform on the part of, financial loss caused by and error or omission in the service or product or service sold by the policyholder as per the law.
These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm.
Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal that are the beneficiaries of the advice or service.
Coverage sometimes provides for the defense costs, including when legal action turns out to be groundless.
0 Comments