Professional Indemnity Insurance - Benefits & Features
Professional Indemnity Insurance is a necessary tool for most professionals who want to earn their livelihood through providing skilled opinion. Professionals from different industries such as architects, engineers, brokers, solicitors, independent financial advisers, accountants, computer consultants etc. need to look for an effective insurance coverage to protect their rights or interests in highly developed consumer market.
The insurance policy provides financial redemption for any kind of error, omissions, on the part of professional during the period of the service. Damages against the breach of professional trust, duty against the business firm can be a subject matter of the PI insurance.
On the basis of the scope of insurance cover, the professional indemnity also include following risk that may cause damages to a practicing professional:
Libel & slander
Loss of Important Documents
Breaching confidentiality
Copyright Infringement
Dishonesty of co-workers
Breach of warranty of authority
Tuesday, June 3, 2008
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