An insurance policy that service-related businesses need is professional liability insurance. Learn about what it covers and protects against.

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Myles is a former senior insurance editor for Investopedia. He oversaw the strategy ...

Professional liability insurance covers legal costs and settlements for service-related negligence. It's essential for advisors like lawyers and doctors, particularly with high risk of client claims.