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DictionarySeemalpractice insuranceProfessional liability insurance
Professional liability insuranceInsurance designed to insure an architect, engineer, or any person or firm undertaking design responsibility, such as design-build contractor, against claims for damages resulting from alleged professional negligence.professional liability insuranceInsurance designed to insure an architect or engineer against claims for damages resulting from alleged professional negligence.professional liability insurance
malpractice insurance A generic term for an insurance policy purchased by health professionals to cover the costs of paying for legal fees and damages that a court of law might award a plaintiff alleging that the covered party committed one or more negligent acts that resulted in some form of tangible (compensable) harm.professional liability insuranceA type of insurance contract that provides compensation for a person or party injured by a professional's acts or omissions. Two common types of policies are as follows: (1) Claims made. The claim for damages by the injured party must be made during the policy coverage period in order for the professional to be covered and represented by the insurance company. (2) Occurrence basis. The claim for damages by the injured party is covered by the insurance company as long as the act of professional liability occurs during the policy coverage period, even though the claim is filed after the coverage period ends. FinancialSeeerrors and omissions insuranceAcronymsSeePLI |