- professional liability insurance
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Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
professional liability insurance
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Professional liability insurance — (PLI), also called professional indemnity insurance (PII) but more commonly known as errors omissions (E O) in the US, is a form of liability insurance that helps protect professional advice and service providing individuals and companies from… … Wikipedia
Professional Liability Insurance — Insurance that protects professionals such as accountants, lawyers and physicians against negligence and other claims initiated by their clients. It is required by professionals who have expertise in a specific area because general liability… … Investment dictionary
professional liability insurance — A policy protecting insured, a professional man, against liability arising from his acts or omissions in the practice of his profession. 29A Am J Rev ed Ins § 1358 … Ballentine's law dictionary
Professional indemnity insurance — provides cover for claims brought against the policyholder due to their professional negligence.There are three types of Professional Indemnity wordings: Negligent act, error or omission This indemnifies the policyholder against… … Wikipedia
professional indemnity insurance — Insurance that gives protection against legal liability for damage or compensation arising out of any neglect, error or omission committed or alleged to have been committed by or on behalf of the insured in connection with the business. Practical … Law dictionary
Business Liability Insurance — Insurance that protects a company and/or business owner in the event of a formal lawsuit or other third party claim. Coverage includes any financial liability incurred in addition to expenses related to the company s legal defense. There are… … Investment dictionary
Liability insurance — is a part of the general insurance system of risk financing. Originally, individuals or companies that faced a common peril , formed a group and created a self help fund out of which to pay compensation should any member incur loss. The modern… … Wikipedia
liability insurance — insurance covering the insured against losses arising from injury or damage to another person or property. * * * Insurance against claims of loss or damage for which a policyholder might have to compensate another party. The policy covers losses… … Universalium
professional liability — ➔ liability * * * professional liability UK US noun [U] ► LAW the legal responsibility of a professional person such as a doctor, lawyer, etc. to pay for any damage, harm, or loss that they cause as they do their job: »professional liability… … Financial and business terms
professional indemnity insurance — PII A form of third party insurance that covers a professional person, such as an accountant or auditor, against paying compensation in the event of being sued for negligence. This can include giving defective advice if the person professes to be … Accounting dictionary
