Definitions from the Web
Malpractice Insurance
Definition: Malpractice insurance refers to specialized liability insurance coverage designed to protect professionals, such as doctors, lawyers, and accountants, from financial losses due to claims of negligence or mistakes in their professional services.
Senses and Usages:
- Medical Malpractice Insurance: This type of malpractice insurance provides protection for healthcare professionals against claims arising from medical errors, negligence, or clinical mistakes.
- Legal Malpractice Insurance: Legal professionals, including lawyers and law firms, obtain this type of insurance to safeguard themselves against allegations of errors, negligence, or unethical conduct while providing legal services.
- Accountants Malpractice Insurance: Accountants and accounting firms may choose to purchase this insurance coverage to protect themselves from financial losses resulting from claims of errors, omissions, or incorrect financial advice provided to clients.
Sample Sentences:
- As a responsible physician, it is crucial to have adequate medical malpractice insurance to protect yourself from potential lawsuits.
- The law firm decided to renew their legal malpractice insurance policy to ensure they are protected in case of any professional negligence claims.
- Accountants should consider obtaining accountants malpractice insurance to mitigate the financial risks associated with unintentional errors or incorrect financial advice given to clients.
|