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Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a ...
In insurance law, a KC clause (or, during the reign of a female monarch, a QC clause) is a clause in an insurance policy (usually but not exclusively a professional indemnity insurance policy) that provides that an action against the insured is not to be contested unless a King's Counsel (or KC) advises that the defence has a reasonable prospect of success.
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Business insurance can take a number of different forms, such as the various kinds of professional liability insurance, also called professional indemnity (PI), which are discussed below under that name; and the business owner's policy (BOP), which packages into one policy many of the kinds of coverage that a business owner needs, in a way ...
Liability of provider of professional services towards their client (and potentially third parties) can arise on a number of different legal bases, including contract, negligence, other torts, equity (such as duties owed by trustees and fiduciaries), as well as statutory rules such as the Consumer Rights Act 2015 and the Supply of Goods and Services Act 1982 (which applies in non-consumer ...
A judge told the parents of 27-year-old Ellen Greenberg, a Philadelphia teacher found dead with 20 stab wounds in 2011, that the city's declaration of suicide was "puzzling."
An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
We're firmly in awards season with the 2024 college football regular season and conference championships complete.. While the 2024 Heisman Trophy will be awarded on Saturday, the nation's top ...