Professional indemnity insurance is a must for the professionals offering their services as advice and consultation to their business clients. Professional indemnity insurance covers errors of omission, neglect and flawed advice and services given to the clients who incurred severe losses due to their erroneous advice.
Professional indemnity insurance policy also includes coverage for document loss, such as if the business or professional misplaces or damages important documents of clients. Counting on the premium benefits of professional indemnity insurance, it allows the policy holder to get an access to legal help in case of any legal dispute with the client. By means of professional indemnity insurance, the professionals can avoid heavy legal cost which is required in fighting a case in the court of law.
By opting to professional indemnity insurance, companies and individuals can save quality time which can otherwise gets spent in fighting long drawn litigations for claims made by unsatisfied clients.