Should You Buy A Professional Indemnity Insurance?

Professional Indemnity Insurance policy protects an individual from any third-party liability arising due to any mistake or decision made by the individual, working as a service provider in his/her professional capacity, that may have not gone down well with the party receiving the service. In certain professions like medical services, even a single mistake can […]

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Do I need professional indemnity Insurance as an engineering consultant?

An engineering consultant is a professional adviser who with his due diligence and reasonable skills provides assistance in engineering projects. Errors and omissions are part and parcel of professional services and Professional Indemnity Insurance (PLI) help you get covered against negligent acts, error or omission etc. In engineering projects, there are high chances of design […]

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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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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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What is IPR Infringement Clause in Errors and Omission Insurance?

In today’s highly competitive world, there has been a rise in the consumer-friendly nature of legal environment across India. It makes it necessary for the people working in different areas to pay utmost care towards the manner in which they are discharging their duties otherwise they could be sued. In the recent times, it is […]

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What is the Claim Process Under Professional Indemnity Insurance?

For businesses or professionals that offer specialist service or advice, professional indemnity insurance is a boon. Also called, errors & omissions insurance, the policy covers claims which are made against such professionals by people who allege that they have incurred losses due to their professional acts. Along with compensating the unhappy client, the errors & […]

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