David started a public accounting firm.David is concerned that accountants on his staff may give incorrect accounting advice,and the accounting firm may be sued.What type of liability insurance should David purchase to protect against such claims?

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Errors and omissions insurance (also known as professional liability insurance) provides coverage for claims arising from allegations of professional negligence, errors, or omissions in the performance of professional services. This type of insurance is designed to protect businesses and individuals that provide professional services, like accountants, from the costs of defending against claims of wrongdoing, as well as from judgments and settlements.

David Started a Public Accounting Firm