Professional indemnity insurance provides cover for claims

                                                                                         

There are risks on every turn and twist of the life. In a world overflowing with litigations and law suits, even a single slip can land you on the wrong side with aggrieved parties making a claim on every penny that you have in your bank account. Hence getting a professional indemnity is now becoming a must. Especially if you are a freelancer or a professional with no big organization (sending their legal cell to your rescue), getting insurance companies on your side is a very wise decision.

Professional Indemnity provides you cover against the claims made for professional negligence. Now, the negligence need not always be intentional or a serious case of neglect. You can simply miss a deadline and the next thing you know is that the client is suing (running into huge bucks) you for damages. If you are a policy holder, the Professional Indemnity protects you against all such lawsuits.

A Professional Indemnity protects you against the following:

1.Breach of duty: It covers lawsuits arising out of errors, omissions or neglect in the course of duty.

2.Civil Liability: It covers breach of contract, slander and other such civil liabilities

3.Negligent act and errors: It protects you against unintentional errors and omissions.

It is important to understand that Professional Indemnity is not an unlimited cover, making up for all your mistakes. Mostly, the insurance companies set up limits of the amount for which they will provide the cover as per the contract. Moreover, the insurance is not for a lifetime and holds valid for only a fixed period of time. There are also various terms, conditions and clauses that need to be understood and the cover only extends to them.

Owing to the benefits Professional Indemnity offers they are a major hit with professionals operating across various industries. The next time there’s a claim made by the client you could be rest assured with professional indemnity insurance!

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For further information on professional indemnity and professional liability insurance, please contact Coulson Pritchard Associates on 01480 470220 or visit at www.coulsonpritchard.com

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