QYR Market Research Global Professional Liability Insurance market | Seite 3

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• The coverage focuses on alleged failure to perform on the part
of, financial loss caused by, and error or omission in the service
or product sold by the policyholder. These are causes for legal
action that would not be covered by a more general liability
insurance policy which addresses more direct forms of harm.
Professional liability insurance may take on different forms
and names depending on the profession, especially medical and
legal, and is sometimes required under contract by other
businesses that are the beneficiaries of the advice or service.