Professional Indemnity Insurance

PI insurance, commonly known as indemnity insurance, is an insurance facility that offers financial coverage for practicing professionals against any kind of claims that may hamper a professional’s image and also cause financial loss in due course of contract served. As the litigation is increasing in the ongoing lifestyles, the value of professional indemnity has been considered an addition to the original value.

Professional indemnity insurance scheme ensures that professionals can take good care of any claims of unpleasant nature. If taken as per the requirements, an insured can protect him from any unforeseen situations, which may lead to financial liabilities.
For taking the best coverage, an insured have to submit his certificates of proofs such as insolvency licenses, firms’ auditing certificates and firms’ investment business certificates to get the maximum coverage in minimum time period

PI Insurance

PI insurance: A Matter of Good Practice

Nowadays, most professionals carry a certain level of professional indemnity insurance. This protects a professional against compensation sought by a client if they believe he or she has made mistakes or been negligent in the execution of the work for them. The coverage under PI insurance provides indemnity with respect to legal liability arising out of the practice of his/her profession.

Professional Indemnity insurance understands the risks involved when practicing as a professional, and taking adequate steps to provide security against the consequences of these unforeseen risks. It is vital for the professional to understand the necessity to be proactive in protecting against any exposure, financial or otherwise.

Professional Indemnity Insurance

Professional Indemnity Insurance: A Growing Necessity for practicing Professionals

Professional Indemnity Insurance offers essential financial protection for professionals working in a wide range of disciplines. In case, a client suffers any kind of financial loss due to alleged negligence, error, or omission, the insurance company offering the professional indemnity insurance will provide the compensation or cost of defending claims for the damages.

Anyone who offers advice, designs, or provides alike services in a professional manner is known as an expert by clients who seek services for improving their way of working. If a professional indulges in some sort of dispute with a client, the latter has the right to pursue a claim from the former.