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How to Reduce Premium of Professional Liability Insurance Coverage?

A professional liability insurance plays a crucial role in protecting you against legal claims for errors, omission and professional negligence. Also known as errors and omissions insurance policy, it indemnifies the policyholder against various claims which may arise due to a breach of duty, negligence, etc.; while discharging duties. Considering the vital role played by […]

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How Premium is Decided Under Professional Indemnity Insurance

A professional indemnity insurance plays a crucial role by offering you financial coverage against professional negligence and errors. Within the field of risk management, buying a professional indemnity insurance (also called errors & omissions insurance policy) is a crucial step which you can take towards hedging your potential risks. If you are in the market […]

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Do past claims cause higher premium in Professional Indemnity Policy?

Yes, past claims impact the premium of a professional indemnity insurance policy. Insurance companies evaluate a firm’s claim records over the past five to ten years as a likely barometer of future incidents. Thus, the size and the frequency of a previous claim is taken into account and has a significant bearing on a firm’s […]

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How Much does Errors and Omissions Insurance Costs?

If you are into the service industry, you might always run the risk of being sued by customers in case they incur losses due to your products or services. Errors and omission insurance policy, also called professional liability insurance, offers protection to companies and their subsidiaries for such claims which are brought against them by […]

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