Which type of insurance primarily protects against malpractice claims?

Professional liability insurance is specifically designed to protect professionals from claims of negligence or malpractice that may arise from their services. This type of coverage is crucial for individuals in various professions, such as doctors, lawyers, and consultants, as it provides financial protection against lawsuits alleging a failure to perform their professional duties competently.

The nature of professional liability insurance involves covering defense costs, settlements, and judgments that the insured may be liable for in the event of a malpractice claim. This insurance helps professionals maintain their livelihoods by safeguarding against potentially devastating financial repercussions resulting from legal actions.

In contrast, property insurance focuses on covering physical assets against damage or loss, while worker's compensation insurance is intended to protect employees who are injured on the job. Automobile insurance covers vehicles and liability related to driving incidents but does not address malpractice. Therefore, professional liability insurance stands out as the essential coverage for those concerned about malpractice claims in their professional practice.