Idaho Property and Casualty Practice Exam 2025 - Free Practice Questions and Study Guide

Professional Liability Insurance is specifically designed to protect professionals against claims of negligence or inadequate work in their field. Errors and omissions insurance is essential for various professions, as it covers claims made by clients for services that were not performed correctly or where expected outcomes were not achieved. Similarly, fiduciary liability insurance protects those who manage employee benefit plans (such as fiduciaries) against claims of breach of duty or mismanagement. Physicians, surgeons, and dentists liability insurance is tailored for medical professionals, providing coverage for malpractice claims stemming from their professional services.

Commercial umbrella insurance, however, serves a different purpose. It provides additional coverage that goes beyond the limits of underlying liability insurance policies, such as general liability or commercial auto insurance. It is not specifically designed to address professional liability issues, but rather to offer extra protection in the event of a significant claim that exceeds the limits of other liability policies. Thus, it does not fit within the category of Professional Liability Insurance as defined and is the correct answer.