What is the difference between a general liability insurance policy and a professional liability insurance policy?

Understanding the Difference Between General Liability and Professional Liability Insurance Policies

As a lawyer, I can confirm that there is a significant difference between a general liability insurance policy and a professional liability insurance policy.

General Liability Insurance Policy

A general liability insurance policy provides coverage for claims arising out of bodily injury, property damage, or personal injury. This type of insurance policy is designed to protect businesses and individuals from lawsuits arising out of accidents or negligence. General liability insurance policies typically cover claims related to slip and falls, damage to property, and personal injury.

Professional Liability Insurance Policy

On the other hand, a professional liability insurance policy (also known as errors and omissions insurance) provides coverage for claims arising out of professional services rendered. This type of policy is designed to protect individuals and businesses from claims related to errors or omissions made in the course of providing professional services. Professional liability insurance policies typically cover claims related to malpractice, errors in judgment, and failures to perform professional duties.

The key difference between the two types of policies is the nature of the claims covered. General liability policies cover claims related to bodily injury, property damage, or personal injury, while professional liability policies cover claims related to errors or omissions made in the provision of professional services.

It is important to note that there may be limitations or exceptions to the coverage provided by these policies, depending on the specific terms and conditions of the policy. For example, general liability policies may exclude claims related to intentional acts or criminal conduct, while professional liability policies may exclude claims related to intentional misconduct or fraud.

In order to ensure that you are adequately protected, it is important to carefully review the terms and conditions of your insurance policy and purchase additional coverage if necessary. As always, if you have any specific legal questions or concerns, it is best to consult with a licensed attorney in your jurisdiction.