professional liability insurance

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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 insurance

A 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.
References in periodicals archive ?
That's why you need to protect your livelihood with professional liability insurance.
Claims reported to the AICPA Professional Liability Insurance Program were categorized as follows in 2013:
Statistical data contained in this report were provided by CNA, the underwriter of the AICPA Professional Liability Insurance Program.
A line-by-line look at an updated medical professional liability insurance policy, highlighting terms that are most negotiable right now, and specific types of coverage that are currently being included and terms you absolutely must update before the end of the year (e.
The 10 questions most asked by doctors with respect to medical professional liability insurance, and how to make sure their policies are properly updated for 2011
Many CPA firm managers have begun to question the costs of professional liability insurance and some, particularly small firms, have been unable to justify incurring such an expense.
Like Walls, Harris has extensive experience in marketing professional liability insurance products to the legal community.
Conventus Inter-Insurance Exchange is a not-for-profit, non-assessable reciprocal insurance exchange providing medical professional liability insurance in New Jersey.
One is to provide a stable, affordable source of medical professional liability insurance.
The PIAA is an association of doctor/provider-owned and/or operated medical professional liability insurance companies which insure more than 60 percent of America's private practicing physicians as well as dentists, hospitals, and other healthcare providers.
ProAssurance Corporation (NYSE:PRA) is the nation's fourth largest writer of medical professional liability insurance through its principal subsidiaries The Medical Assurance Company, Inc.

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