Professional Liability Insurance is a type of coverage that protects professionals from claims of negligence or inadequate work. This insurance is essential for individuals in fields like medicine, law, and consulting, where clients may seek compensation for mistakes or failures in service. It helps cover legal fees, settlements, and other costs associated with defending against such claims. Having Professional Liability Insurance not only safeguards your finances but also enhances your credibility. Clients often feel more secure working with professionals who carry this insurance, knowing they are protected in case of any issues. This coverage is a vital part of risk management for many businesses and freelancers.