Is professional liability insurance required for any profession?
No, professional liability insurance is not required for any profession in California. Professional liability insurance, or errors and omissions (E&O) insurance, is a type of insurance that helps protect professionals from liability for their errors or negligence. Professionals such as lawyers, physicians, contractors, accountants, and real estate agents are the most common purchasers of professional liability policies, but they are not required to purchase a policy. However, in some cases, a professional may be required to have a certain level of professional liability insurance in order to practice in a particular field. This is usually at the discretion of state regulatory agencies and professional societies. For example, the California Department of Insurance requires that certain types of insurance brokers carry a minimum amount of professional liability insurance. In summary, while professional liability insurance is not required for any profession in California, it may be necessary in certain circumstances. Professional liability insurance provides a layer of protection to help defend a professional from negligence or errors. Purchasing professional liability insurance is a prudent decision for most professionals, but it is ultimately up to the individual to determine if it is necessary for their field.
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