Coverages
Professional Liability
There are numerous occupations and fields of endeavor which are regarded as professional in today's society. The traditional professionals such as physicians and lawyers come immediately to mind, but other callings, including accountants, architects, engineering, and clergy, have all been added to the list. Although each of these professionals serves a particular societal need, they all have certain attributes, most notably that they hold themselves out as possessing special skills and experience. Moreover, they are relied on by society to exercise intellectual judgment in their particular areas of knowledge. These special skills and knowledge confer on the professional an elevated status within society. At the same time, these special skills and knowledge carry with them certain disadvantages, one of the most serious being the potential liabilities to which a professional is exposed when he fails to meet the standard of conduct mandated by his profession.
International Risk Management Institute, Inc.