While general liability insurance and professional liability insurance both provide coverage against financial losses, the main difference lies in the risks they address. General liability insurance shields businesses from bodily injury, property damage and personal injury claims. On the other hand, professional liability insurance, sometimes knowns as errors and omissions (E&O), focuses on protecting professionals from claims related to errors, omissions or negligence when providing specialized services or advice.
Understanding the nuances between general liability and professional liability allows business owners to make informed decisions about the specific risks their business may face and ensure appropriate coverage.