What type of insurance policy covers the professional liability exposure of insurance brokers?

The correct answer is errors and omissions insurance, which specifically provides coverage for professional liability exposures, particularly for insurance brokers. This type of insurance protects brokers against claims arising from negligence, errors, or omissions made during the performance of their professional duties. It ensures that if a client feels they were wronged due to a broker's oversight or failure to meet professional standards, the broker has financial protection to cover legal defense costs and any damages awarded.

Errors and omissions insurance is tailored to the unique risks faced by professionals in providing services and advice, making it essential for insurance brokers who deal with complex policy details and client needs. This is why it is the most suitable choice among the options provided. Other types of insurance, such as personal liability insurance or commercial general liability insurance, are designed for broader coverage and do not specifically cover the nuances related to professional negligence in advisory roles. Malpractice insurance is often associated with medical professionals, thus not directly applicable to the context of insurance brokers.