Malpractice insurance, more commonly known as liability insurance, insures professional individuals against damages which they may need to pay to individuals who have successfully litigated against them. Malpractice generally refers to actions taken by an individual that does not necessarily conform to standard practices which leads to injury or other losses to another person. If a person feels that they suffered a loss due to negligence of a particular individual, they may sue the person in question. Malpractice insurance will then cover that person for the damages that they need to pay to the plaintiff as awarded by a court of law. These policies normally have a limit to the benefit the insured is covered for and any amount above that limit is payable by the defendant. Malpractice lawsuits can vary from medical and legal malpractice to accounting and investment malpractice.