Professional Liability Insurance
Need for Professional Liability Insurance
Professional liability insurance is needed for all practicing professionals. This insurance instrument helps a person to bear the consequences of the personal loss, valued in terms of money.
Professional Liability Insurance protects a company from any unforeseen claims if the client held the company responsible for errors or for the failure in the work performance as promised in the contract.
It includes the coverage such as legal defense costs irrespective of how baseless the allegations be. Professional insurance pays the damaged party for any resulting judgments which can otherwise be very costly. However, the coverage limits the total amount of the policy taken for protecting the interests and rights.
Professional Liability Insurance coverage extends to all the working professionals and subcontractors, and can be worldwide in scope.
Professional liability insurance is needed for all practicing professionals. This insurance instrument helps a person to bear the consequences of the personal loss, valued in terms of money.
Professional Liability Insurance protects a company from any unforeseen claims if the client held the company responsible for errors or for the failure in the work performance as promised in the contract.
It includes the coverage such as legal defense costs irrespective of how baseless the allegations be. Professional insurance pays the damaged party for any resulting judgments which can otherwise be very costly. However, the coverage limits the total amount of the policy taken for protecting the interests and rights.
Professional Liability Insurance coverage extends to all the working professionals and subcontractors, and can be worldwide in scope.
1 comment:
I have read so many articles that explains this useful insurance scheme that is specially meant for individuals who are involved in servicing business like lawyers, doctors etc. But out of all of them this one is the best post. Thanks for sharing.
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