Professional Liability in the context of Legal refers to the legal responsibility of professionals, such as lawyers, to their clients for any damages or losses that may arise from their professional services. This type of liability is based on the concept of negligence, which is when a professional fails to exercise the degree of care and skill that is expected of them in their profession. Professional Liability insurance is designed to protect professionals from financial losses due to claims of negligence or malpractice.
The Professional Liability market is highly competitive, with a wide range of companies offering coverage. Some of the major players in the market include Chubb, AIG, Allianz, AXA, Zurich, Liberty Mutual, and Travelers. Show Less Read more
