MEDICAL MALPRACTICE (Negligent Acts)
Malpractice is professional negligence by act or omission by a health care provider in which care provided deviates from accepted standards of practice in the medical community and causes injury to the patient. Standards and regulations for medical malpractice vary by country and jurisdiction within countries. Medical professionals are required to maintain professional liability insurance to offset the risk and costs of lawsuits based on medical malpractice.
Medical Professional protects for covered liability arising from an actual or alleged breach of duty, negligent act, error or omission, arising out of the performing or failing to perform.
ERRORS & OMISSIONS INSURANCE (Mistakes)
Errors and omissions (E&O) insurance, which may exclude negligent acts other than errors and omissions (“mistakes”), is most often used by consultants and brokers and agents of various sorts, including notaries public, real estate brokers, insurance agents themselves, appraisers, management consultants and information technology service providers (there are specific E&O policies for software developers, website developers, etc.), architects, landscape architects, engineers, attorneys, third-party business administrators, quality control specialists, nondestructive testing analysts, and many others. A mistake which causes financial harm to another can occur in almost any transaction in many professions.
PROFESSIONAL LIABILITY INSURANCE DOES NOT COVER:
- Bodily injury or property damage
- Fraudulent acts
- Employment matters
- False Advertising
- Patents and trade secrets
- Personally identifiable information
- Other services