What is malpractice insurance?

Malpractice insurance is a type of professional liability insurance that protects professionals, such as doctors, nurses, and lawyers, against claims of negligence or harm resulting from mistakes or omissions in their services. If a client or patient alleges that a professional's actions caused injury or financial loss, malpractice insurance helps cover legal costs, settlements, or judgments. It is essential for individuals in high-risk professions to have this coverage to safeguard their careers and personal assets.