Are there any statutes of limitations that apply to professional negligence claims?

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What is the statute of limitations for professional negligence claims?
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How does a professional determine the amount of liability insurance coverage needed?
Are there any limitations on damages that can be recovered in a professional negligence claim?
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Is professional liability insurance always necessary for a professional?
What are some of the challenges of proving a professional negligence claim?
Is it possible to settle a professional negligence claim out of court?
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