Professional Liability Insurance

Also known as errors & omissions (E&O) insurance, it protects professionals from claims of negligence or mistakes in the services […]

Producer

A licensed individual or entity (agent or broker) who sells and services insurance policies.

Premium

The amount paid by the policyholder to the insurance company in exchange for coverage.

Preferred Provider Organization (PPO)

A health insurance plan that offers more flexibility in choosing doctors and specialists. It allows both in- and out-of-network care […]

Policy

A formal written contract between the insurer and the insured outlining coverage terms, conditions, and exclusions.

Point of Service (POS)

A type of health insurance plan that combines features of HMO and PPO plans. It requires referrals for specialists but […]

Peril

A specific risk or cause of loss covered by an insurance policy, such as fire, theft, or windstorm.