3,344,906
The label that is used for the policy by real estate, tech, and accounting professionals is the only difference between Error and Omissions and Professional Liability Insurance. ... Malpractice Insurance is used to describe the policy covering professionals in the medical and legal industries, like doctors and lawyers.
Source: Next Insurance
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Brian L. Sirota, Esq.
Orange, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
1,310,972
The insurance we are discussing is for different activities in different professions. What they are called is not the differentiator. What is covered is different but the names can be interchangeable.
I have heard of and seen agent activities that I deemed to be professional malpractice.
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
620,692
I have an E&O policy but I also purchased a $1,000,000.00 Personal Liability Umbrella Policy when I got into the business.
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
5,215,488
If it looks loke a duck, has feathers like a duck and quacks like a duck, it moght be a duck. They are bsically the same. Want additional coverage. add an additional liability coverage policy.
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
427,147
Hearing my wife, who is a nurse practitioner, speak of malpractice insurance, I'd say the only difference is the cost. My E&O with increased limits and appraiser license riders included was $444. Her speaking about her malpractice in the hospital, and the Botox certification she is looking into doing are $10,000 & $1,000, respectively.
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
953,617
I have not heard of term "malpractice insurance" used for real estate or insurance professionals, but if I did, I would assume that the individual really meant E&O insurance and not the terminology used most commonly in the medical and legal fields.
The "similar" terminology appears to be industry specific.
I'm guessing that malpractice insurance covers more than just E&O in the medical and legal professions (o.k., I'm positive it does!), hence perhaps the difference.
Semantics, semantics!
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
378,367
2,781,013
Living in a country that settles everything via lawsuits makes insurance $$$
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Fred Griffin Florida R...
Tallahassee, FL