Any professional who practices his or her special skill or knowledge in exchange of a particular fee may consider taking out professional liability insurance. In fact, many countries such as UK and Australia do not allow professionals without having adequate professional insurance cover. Hence, taking suitable insurance policy is essential. Let us see, how professional insurance can protect the interests of a professional:
The insurance protects a professional against compensation demanded by a client in case you as a professional have made mistakes or become negligent in some or all of the services that you have offered to the concerned client. Professional indemnity insurance will also cover any legal costs.
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