Professional liability insurance, also known as errors and omissions insurance or malpractice insurance, is a type of insurance that is designed to protect professionals from claims of negligence or breach of duty arising from the services they provide. This type of insurance is particularly important for professionals who provide advice, counsel, or design services, such as doctors, lawyers, consultants, and architects.
General liability insurance, on the other hand, is a type of insurance that is designed to protect businesses from claims of bodily injury, property damage, and other forms of general liability that may arise from their operations. This type of insurance is typically required for businesses that have a physical location or interact with customers or clients in person.
The key difference between professional liability insurance and general liability insurance is the type of claim that is covered. Professional liability insurance covers claims of negligence or errors made in the course of providing professional services, while general liability insurance covers claims of bodily injury, property damage, and other more general types of liability.
It is important to note that there may be some overlap between these two types of insurance policies in some cases. For example, a business that provides professional services may be required to have both types of insurance, depending on the specific risks associated with their operations.
If you are unsure about whether you need professional liability insurance or general liability insurance, it is important to consult with a licensed insurance professional or attorney. They can help you evaluate your specific risks and recommend the appropriate type and amount of insurance coverage for your business or profession.
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