What Does Wrongful Act Mean?
A wrongful act refers to any error or breach of conduct covered under professional liability insurance, which provides the officers and directors of an insured company financial protection from the liability arising from alleged erroneous acts. Aside from errors and breach of conduct, wrongful acts include breach of duty, neglect, misstatement, omission, or anything for which a claim is filed against them or the company. Wrongful acts do not include theft, libel, slander and dishonesty.
