Reasons for Taking Professional Indemnity
Professional indemnity insurance saves the professionals from sudden third party claims that may cause a heavy financial loss. This unique method of insurance package offers a great relief and security for professional to practice freely and with no tensions and worries in mind. There are number of different reasons for which professional insurance can be taken and the reasons which may cause heavy loss for a practicing professional. HLibel & Slander,Malicious falsehood, Negligent statements, Intellectual property rights, Breach of normal rights are the few reasons that may cause such problems.
Thus, all professionals want to get rid of such type of problems, by taking a customized professional indemnity policy which has become mandatory for you.
Friday, December 21, 2007
Friday, December 7, 2007
Professional Indemnity Insurance
Professional Indemnity Insurance for Chartered Accountants and Solicitors
Like any other professionals, Chartered Accountants and Solicitors need professional indemnity insurance to deal with professional liability exposures while tenure of their service to the common people. Taking indemnity insurance is the best way to get risk coverage for financial professionals who charge their service for a fee. Due to the specialized nature of their work and service, sometimes Chartered Accountants and Solicitors have to bear situation which may leads to monetary loss for them. Therefore, the need for professional indemnity became really important for these people.
Professionals like Chartered Accountants and Solicitors usually pass through a tough study curriculum and practical term to become eligible for their specialized services. As a result, a strict code of conduct has been required to follow by these professional while practicising their knowledge and skills. In order to serve better, sometimes these professional may face certain unforeseen situations including omission in work and others and responsible for carrying liability towards the same.
Like any other professionals, Chartered Accountants and Solicitors need professional indemnity insurance to deal with professional liability exposures while tenure of their service to the common people. Taking indemnity insurance is the best way to get risk coverage for financial professionals who charge their service for a fee. Due to the specialized nature of their work and service, sometimes Chartered Accountants and Solicitors have to bear situation which may leads to monetary loss for them. Therefore, the need for professional indemnity became really important for these people.
Professionals like Chartered Accountants and Solicitors usually pass through a tough study curriculum and practical term to become eligible for their specialized services. As a result, a strict code of conduct has been required to follow by these professional while practicising their knowledge and skills. In order to serve better, sometimes these professional may face certain unforeseen situations including omission in work and others and responsible for carrying liability towards the same.
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