Professional liability insurance is sometimes called “errors and omissions.” It’s an acknowledgement that even the best advice or service provided can sometimes fall short of expectations. Professional liability insurance covers things like mistakes, services that weren’t performed or claims of negligence. One policy can encompass past, present and future work. Risks vary, of course. An architect needs different coverage from a barber, but all good policies typically cover judgments, attorney fees, court costs and settlements. Even a claim found to be unwarranted can be expensive.