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.
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.
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