Professional indemnity and the available options
Professional indemnity insurance is a kind of insurance coverage that safeguards experts – both regulars and freelancers to benefit from effective financial coverage. Variety of professionals - be it engineers, doctors, consultants, architects, translators, lawyers and others, can benefit from a secure coverage of professional indemnity. By taking a professional indemnity insurance policy, a business owner can nullify the risk of being exposed to financial claims arising from libel & slender, negligence, breach of confidence, falsehood, copyright and trademark infringement etc., and many more.
Many insurance companies have stepped in to offer different varieties of professional indemnity insurance policies to professionals from diverse field of activities. Usually, insurance companies access risks involved in the profession and accordingly give coverage in exchange of a pre-decided premium amount.
There are many insurance companies world-wide that have started offering tailored policies. In cases of such policies, an insurance seeker gets to decide on the sum of the policy – all along with a customized terms and conditions to be followed.
In such claims, policies are awarded after identifying individual needs and paying capabilities of a professional.
4 comments:
You elaborated more about professional indemnity and I find it really awesome. Keep it up!
Kate@Insurance Agent Forum
You have provided an excellent information about professional indemnity plan and its various options that is majorly opted by professionals. According to the nature of profession and services that a person offer premium is set by the insurance provider. Thanks for sharing about it.
small business insurance
You raise many questions in my mind; you wrote a good post, but it is also thought provoking, and I will have to ponder it a bit more; I will return soon.
Pi Insurance
Great post! PI insurance such an important investment for businesses who provide professional services, because there is always a risk of a claim being made against them, no matter how unlikely they think it is.
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