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
Thursday, July 31, 2008
Professional Indemnity Insurance
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