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Does Professional Indemnity Insurance allow for out of court settlements?

A professional indemnity insurance policy plays a crucial role by offering the financial coverage to the policyholder against professional negligence and acts of omission or negligence. The policy also covers defence costs, i.e., lawyer fees and compensation awarded by the court to the plaintiff. Also called, errors & omissions insurance, the policy, gets triggered as […]

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What is professional indemnity insurance?

Professional indemnity insurance, popularly known as PI Insurance or professional liability insurance (PLI), offers coverage to professionals like consultants, lawyer, architects, doctors etc against the error and omission claims filed by a third party i.e. clients. This policy indemnifies you against the legal cost and protects your professional reputation. Any claims arising out of negligence […]

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What are the professional indemnity insurance advantages?

Professional indemnity insurance is one of the most popular insurance among professionals since it saves them and their business at the time of error and omission. Negligence, incorrect advice, violation of good faith, misrepresentation or breach of professional duty might bring doomsday for your business because clients these days are more conscious about their rights. […]

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Is it a legal requirement to have professional indemnity insurance?

Being a professional or consultant comes with a few must-dos: Getting a proper professional indemnity insurance coverage is the most important one as it provides a shield against the financial blow of unexpected occurrences. It saves yourself from huge financial trouble in the long run. It is not a legal requirement to have professional indemnity […]

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How much professional indemnity insurance cover do I need?

Professional Indemnity Insurance provides financial protection against negligence, breach of duty etc. if being a professional you are not prepared for events like error or omission, breach of duty etc, it can prove to be the recipe for ultimate failure. It is very important to buy professional indemnity insurance with an optimum level of coverage. […]

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Professional Indemnity Insurance / Errors & Omission Liability Insurance

Q1. What is Professional Indemnity (PI) Insurance? Professionals Indemnity is for professional such as: – architects, engineers, doctors, lawyers, chartered accountants, and medical practitioners, and services such as medical establishments need to protect their business interests. The policy is also known as Errors and Omission (E&O) Liability insurance, and typically taken by services companies e.g., […]

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Does Professional Liability Insurance Protect Us From Copyright Infringement Lawsuits?

Yes, a professional indemnity insurance policy can give protection against copyright infringement lawsuits. The professional liability insurance, which is also called, errors & omissions insurance policy, offers coverage against professional risks and related legal expenditure. The errors and omissions insurance has an IPR infringement clause which offers coverage in case there is a violation of […]

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