What is the difference between Business Liability Insurance, Professional Liability Insurance, and Directors & Officers Liability Insurance?

Here are the differences:

Professional Liability Insurance
In certain professions, you may cause financial damage to a client, for example, due to a design error or incorrect financial advice. A professional liability insurance policy covers this type of damage.

Business Liability Insurance
When others suffer injury or material damage due to your products or activities, you are liable for it. The damage resulting from this is covered by business liability insurance.

Directors & Officers Liability Insurance
As a director, commissioner, or supervisor, you can be held personally liable for damage resulting from your decisions. You must compensate this damage yourself. Directors & Officers Liability Insurance covers this type of damage.