Professional Indemnity Insurance is all about providing the required financial protection for professionals who work in different industries. The insurance is effective when the insured suffers any kind of financial loss as a result of alleged neglect, error or omission. Indemnity insurance will meet the cost of defending claims and any damages payable.
Professionals who are usually covered under this policy are people who possess special skills and offer their expert advices, or offers similar services in a professional capacity. The idea behind professional indemnity insurance is to cover the legal as well as financial damages. In case, a client pursues a claim and the covered professional has to face financial crunch, the insurance company has to bear the damages. The need for Professional Indemnity Insurance has never been greater.
Professionals who are usually covered under this policy are people who possess special skills and offer their expert advices, or offers similar services in a professional capacity. The idea behind professional indemnity insurance is to cover the legal as well as financial damages. In case, a client pursues a claim and the covered professional has to face financial crunch, the insurance company has to bear the damages. The need for Professional Indemnity Insurance has never been greater.
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