Examlex
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Negligence
A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to harm or damage.
Malpractice Claim
A malpractice claim is a lawsuit brought against a professional (commonly in healthcare) for negligence or failure to perform their duties to an acceptable standard, resulting in harm to a client or patient.
Professional Indemnity Insurance
A type of liability insurance that helps protect professionals from claims made by their clients for errors or omissions.
GAAP
Generally Accepted Accounting Principles, which are a standard framework of guidelines for financial accounting.
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