Professional Indemnity Insurance – The Increasing Demand
Professional indemnity insurance is just you cannot ignore if you are a responsible professional. This system has given you the way to deal with unforeseen circumstances during your practice season. Suppose you are a consultant and people seek some valuable advices from you and eventually your advice do not benefit clients. This kind of situation may give you some problem and you could be found liable to pay off quantifiable loss caused to your clients.
In case of any legal action, the system of professional indemnity insurance helps the clients to recover their losses without burdening the actual professional. The definition of professional indemnity insurance is providing financial indemnity to a professional man or firm against a legal liability to compensate a third party who has sustained injury, loss or damage through breach of duty.
Wednesday, November 7, 2007
Subscribe to:
Post Comments (Atom)
1 comment:
Yes its no doubt that a responsible professional needs this policy. I have been looking for this insurance policy from past few weeks and is trying to learn and understand it completely so that I can easily make the best option. Thanks for providing this helpful information about this policy.
liability insurance
Post a Comment