14.1 Introduction

• Library: Insurance Law in Virginia (Virginia CLE) (2020 Ed.)

14.1 INTRODUCTION

Professional liability policies, also known as errors and omissions policies, provide coverage to policyholders for claims arising from their provision of professional services. ¹ Although the term "professional" originally applied only to those engaged in the practice of theology, medicine, and law, it now applies to a person who belongs to a learned profession or whose occupation requires a high level of training and proficiency. ² For those so engaged, it is critical to view professional liability insurance as part of a comprehensive risk management plan...