Professional Indemnity Insurance

Professional Indemnity (PI) Insurance - A Protective Cover

Professional Indemnity insurance has become compulsory for all professionals. It protects professional and freelance contractors against unforeseen circumstances, such as claims made by unsatisfied customers. Professional indemnity insurance is expediently planned to cover damages that are potentiality payable. Contractors or Consultants simply needs to take an indemnity insurance policy, pay premium, and stay protected.

Professional indemnity is becoming popular these days because of it advantages. Earlier, it was believed that professional indemnity covers are very expensive. However, a little insight into the real aspects shows the truth. PI insurance can be easily obtained by providing information about yearly income, nature of business, nature of working. Freelance contractor or professional can claim Professional Indemnity (PI) insurance as a protective cover for life making Professional Indemnity insurance the most popular scheme for all professionals and freelance contractors

PI Insurance for Forensic Consultants

Who are Forensic Consultants?
People who expertise in recognition, collection, identification, individualization, and interpretation of evidences mainly physically, and the use of science and medicine for criminal and civil law, or regulatory purposes are known as forensic consultants. Mainly for sorting out the crime cases, the expertise of forensic consultants is used. As the work area of forensic consultant is very complex and responsible, they may fall prey for any kind of financial liabilities very easily. Therefore, by taking the adequate professional indemnity insurance, forensic consultants can easily avert some of the unforeseen situations of their lives.

PI Insurance for forensic consultants

PI Insurance for forensic consultants can provide you essential financial protection for a wide range of activities that may harm your reputation in the practicing market. In any event, when a client suffers financial loss caused by alleged neglect, error or omission, the insurance cover will provide the defending claims and pay the damages.

Indemnity Insurance

Indemnity insurance is all about protecting right and interests of a practicing professional in today’s growing litigation world. The insurance protects professionals working actively in different industries, providing quality services. Professionals including traditional architects, engineers, insurance brokers, Independent Financial Advisors, solicitors, surveyors, accountants, computer consultants, business consultants, estate agents, solicitors, translators, PR consultants, environmental consultants, charities and miscellaneous classes as well as the new professions such as Internet Service Providers (ISP), website designers, programmers and IT consultants can take effective insurance policies to protect your professional pleasure.

Lack of professional indemnity insurance, companies might run into troubles and exposed of many kinds of professional liabilities such as:

1. Libel & Slander
2. Damages caused to third party
3. Nasty falsehood
4. False attribution of authorship, and
5. Passing off copyright or trademarks

Professional Indemnity

Professional Indemnity: Why Anyone Needs IT?

Who is a Professional?
A person who offers his expertise or opinion to another person on the basis of a skilful character is known as practicing professional. According to the law, a professional can offer his services under the code and conduct, set by the law itself.

However, it is quite true that human is prone towards committing errors. No human activity can be eliminated of error; therefore, mistakes do happen sometimes. Any kind of financial loss arising out a mistake or failure on the part of the professional may benefit the third party. Many a times, even if the professional is not guilt of any error, he is held liable for paying the third party penalty.

Professional indemnity insurance policy has been seen as an effective tool to get the adequate coverage if the professional is made to pay the damages.