What is the purpose of professional liability insurance?

Professional liability insurance is an important way to protect businesses and individuals in Montana from being held liable for negligence or mistakes that may result in financial loss or damage to another party. This type of insurance helps professionals cover the costs associated with defending a lawsuit or paying a settlement awarded by a court. The purpose of professional liability insurance is to reduce the financial impact a claim may have for professionals who may be sued for their professional work. Professional liability insurance provides coverage for defense costs, including attorney’s fees, and any judgment or settlement that may be awarded. In Montana, professionals who provide services to businesses or individuals and require the public to rely on their skill and expertise may be held liable for any mistakes they make. Professional liability insurance is there to protect professionals from facing a potentially catastrophic financial hardship. Professional liability insurance is a cost-effective way to protect professionals from harm. Being able to access coverage when needed is a valuable tool to help individuals and businesses protect their livelihoods without having to pay for costly legal fees or settlements.

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What is the purpose of professional liability insurance?

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