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professional liability insurance

   Also found in: Financial, Acronyms 0.03 sec.
professional liability insurance
Insurance designed to insure an architect or engineer against claims for damages resulting from alleged professional negligence.


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The policy warned, however: "Be sure you understand that you are not covered under this policy for the acts of certain people in your employment for whose conduct you are responsible UNLESS THEY ARE INSURED UNDER A SEPARATE PROFESSIONAL LIABILITY INSURANCE POLICY," in which event the insurer would pay the excess of the vicarious liability claim over the coverage provided by the other policy.
Law Journal Press (New York), now a unit of Incisive Media, has released "Professional Liability Insurance," a new loose-leaf volume that provides coverage of the range of issues pertinent to the field, from the basics of professional liability insurance policies to more complex issues that arise once a claim is made.
Federal Employee Professional Liability Insurance * $1 million of professional liability damage * 36 month post-retirement discovery period for infractions * Up to $200,000 to pay the costs of defense and monetary penalties * No deductible * More than 31,000 policyholders
 
 
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