Professional indemnity insurance is an effective instrument that protects professionals and advisors from any kind of third-party claims. For example, a client suffers a monetary loss due to the outcome of an alleged error, negligence or omission, a professional indemnity insurance policy is capable of meeting damages payable to the client. Thus, a professional indemnity policy is important to enjoy a trouble-free professional practice.
What makes a PI insurance policy popular is risk covered in it. A wide variety of different professionals can take the policy and run the risk of being exposed to liabilities that may hamper the day-to-day working. Whether you work as a doctor, engineer, lawyer, broker, architect, translator or any other professional, a good quality PI insurance policy can be a boon for all.
A professional indemnity insurance policy covers professionals from:
Negligence
Loss of Document/Data
Intellectual Property Rights
Libel & Slender
Error or Omission
11 comments:
Definitely, professional indemnity assists us to protect ourselves against claims by paying for any legal costs which are incurred when defending an action.
Thanks...
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Very informative blog I found a lot of information about insurance policies and plans.
Nice blog covers all the details regarding to the Liability insurance, keep on posting, i will be in touch.
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I agree that professional indemnity pays off in those situation when one defends an action. This policy help all professionals to have their practice without any trouble. Its a boon for all the professionals as you have stated.
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Great list, just give me a couple of new ideas on what to do next!
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Thanks for great information you write it very clean. I am very lucky to get this tips from you
Do you have fear of bank in PPI reclaim?
Thanks for great information you write it very clean. I am very lucky to get this tips from you
Do you have fear of bank in PPI reclaim?
Professional indemnity insurance is undeniably a must have if your company has a service based in providing advice and other such similar products. If a client suffers from any adverse advice given then you are covered in the case of this kind of third party claim, and the business will therefore not suffer directly.
Thanks for giving me a chance to enjoy your writing. Very good information is contained in your blog. I'll share it as much as I can.
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