Professional indemnity insurance: an introduction

Irrespective of the profession you are working in, client expectations continue to grow, in terms of quality and serviceability. It is good in the sense that professionals can grow by servicing their clients in the best possible manner. However, there is a negative aspect too. The increasing expectations are leading a number of third party alleged claims against professional negligence, claims and omissions. Thankfully, by way of professional indemnity insurance, professionals are enjoying having an effective instrument that saves their honour in time of distress.

Professional indemnity insurance is a ‘must-have’ policy for every professional. In absence of a good quality insurance cover, professionals are working with a greater risk. At any point of time, they can be asked to pay for the losses that they have committed while working for clients.