Elucidate the term Professional Liability

Question

Elucidate the term Professional Liability?

Answer 1

Professionals have specialized knowledge and skills that clients rely on and are willing to pay for. The value of professional services lies not in their infallibility but in their capacity to reduce risk for the client. In defining liability for professional incompetence or negligence, the courts have tried to balance the social objective of assisting innocent victims with the need to avoid discouraging legitimate professional activity.