Which would you need in the event of professional mishaps?

Insurance is essential in the event of professional mishaps because it provides financial protection against various risks associated with your profession. Whether it's liability insurance, professional indemnity insurance, or general business insurance, having the right coverage can help safeguard you from the financial burden that a mishap might cause. This could include legal fees, compensation claims, or other costs associated with accidents or errors that occur in the course of your professional work.

In contrast, trusts, power of attorney, and wills serve different purposes. Trusts are primarily used for estate planning and asset management, allowing individuals to designate how their assets will be distributed after their death. Power of attorney is used to grant someone else the authority to act on your behalf in legal or financial matters but does not provide the financial protection needed in a professional mishap. Lastly, a will outlines how an individual's assets and affairs should be handled upon their death, but it does not address immediate professional risks or liabilities that may arise during one’s career. Thus, insurance is the most appropriate choice for mitigating risks related to professional mishaps.