Which type of liability insurance protects professionals against claims from their services?

Professional liability insurance is designed specifically to protect professionals, such as doctors, lawyers, and accountants, from claims arising from the services they provide. This type of insurance covers allegations of negligence, errors, or omissions that may lead to financial loss for clients due to the professional's failure to perform their duties to the expected standard.

For instance, if a client claims that a healthcare provider made a mistake in diagnosis or treatment that resulted in harm, professional liability insurance would cover legal expenses and any settlements resulting from that claim.

Other types of liability insurance serve different purposes: general liability insurance typically protects businesses from third-party claims for bodily injury or property damage, product liability insurance covers manufacturers or sellers against claims related to product defects, and property liability insurance focuses on protecting against risks associated with damage or loss of property owned by an individual or business. Therefore, professional liability insurance is uniquely suited for safeguarding professionals from the specific risks associated with their services.