Professional indemnity is a reliable insurance cover for all practicing professionals. The insurance covers professional and freelance contractors against any unforeseen embarrassing situation like compensation sought by unsatisfied customers. Professional indemnity is a form of insurance that provides damages that are potentiality payable. Contractors or Consultants simply needs to take an indemnity insurance policy, pay premium, and stay protected.
There are many insurance providers offering different policies for catering to different needs of professionals. In exchange of an affordable premium, professionals can avert the possibilities of many dangerous situations that may occur during their professional career.
Go through the documents in details to know all about the insurance cover.
Wednesday, August 27, 2008
Thursday, August 7, 2008
Professional Indemnity Insurance
Importance of Professional Indemnity Insurance
Now a day’s indemnity insurance has become an important part of a professional’s life in the United Kingdom. The law regarding professional indemnity insurance in the United Kingdom makes it mandatory for traditional professionals such as contractors, architects, engineers, consultants, accountants, and freelance professionals. Professional indemnity helps the practicing professional to claim against error, omissions, professional negligence etc.
Indemnity Insurance is Necessary
Professional indemnity insurance becomes necessary when the unintentional errors occur and leads to financial loss. At times professional may be held to be liable for a mistake even though there was no negligence and Indemnity insurance takes care of such kind of undesirable situations. In other words, this insurance protects the professionals in case of failure to deliver task on time, legal cases can be filed by the company/organization against the professional who has been offering his expertise.
Now a day’s indemnity insurance has become an important part of a professional’s life in the United Kingdom. The law regarding professional indemnity insurance in the United Kingdom makes it mandatory for traditional professionals such as contractors, architects, engineers, consultants, accountants, and freelance professionals. Professional indemnity helps the practicing professional to claim against error, omissions, professional negligence etc.
Indemnity Insurance is Necessary
Professional indemnity insurance becomes necessary when the unintentional errors occur and leads to financial loss. At times professional may be held to be liable for a mistake even though there was no negligence and Indemnity insurance takes care of such kind of undesirable situations. In other words, this insurance protects the professionals in case of failure to deliver task on time, legal cases can be filed by the company/organization against the professional who has been offering his expertise.
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