Professional Indemnity Insurance
If you or your business is within an industry that services information or advisement you are at risk of providing your clients with incorrect or ineffective information. In order to protect your business and your income from losses, professional indemnity is one of best covers for investment. A range of industries are eligible and recommended to purchase professional indemnity insurance including professionals, media professionals, real estate professionals, charity groups and even leisure professionals.
Professional indemnity insurance is a type of cover that specifically protects you and your business against claims made by clients of negligence, malpractice, misconduct or breach of duty. Often these claims become a legal issue which, become costly and results in financial loss for the business. Each industry has unique set of risks; therefore, there are unique insurance plans to mitigate them. Professionals such as accountants require professional indemnity insurance in order to specifically provide protection for risks such as damages to third parties from breach of professional duty or omission. Real estate professional indemnity insurance provides financial protection and legal for agents that provide misleading or false information to clients or omit information that leads to emotional, physical or financial losses.
Protect you, your business and your income, both financially and legally, consider professional indemnity insurance.
Liability insurance is a crucial part of owning and operating a business, there are a range of things that can go wrong, a logical business move would be to have liability insurance as a policy as it will protect you financially in an unexpected event that you are found to be liable for the negligence of the condition of your business property and has caused a third-party to be injured, killed, suffered damages or destroyed property.
There are a variety of insurance policies you can have in place to protect yourself further in the situation an accident are public liability, professional indemnity, product liability. Public liability ensures the person, business, event, contractor etc. are covered from any costs they may be forced to encounter if they are found liable for damages of property, loss, injury or death as a result of negligence. Professional indemnity will protect you from any legal action that may be taken against you if a client is claiming they have suffered a loss from your services or advice. Product liability is crucial to a manufacturing, distribution and importing business as it will ensure you are covered from any damages or injuries you have caused a third party or business as a result of your business or services.
Owning and operating a business is no simple task as it full of unexpected risks, therefore, having the right insurance plan will not only financially protect you in the short term but in the long term.