Pricing for a doctor’s professional indemnity A professional indemnity insurance policy covers doctors against third-party liabilities. A lawsuit filed in case of wrongful treatment or negligence can be expensive. The premium charged depends on many factors like the coverage and likelihood of claim. Moreover, every insurance company follows its own pricing policy. The premium varies even […]
A professional indemnity insurance policy is also called errors and omissions insurance. It offers financial relief to a policyholder if they are sued for professional negligence or acts of omission/negligence. In such cases, the policy also covers defense costs, i.e., lawyer fees as well as court-awarded compensation for the plaintiff. Notice served to the policyholder […]
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 […]
Five types of organisations which must have professional indemnity insurance cover All professionals are susceptible to make mistakes due to negligence at work. However, a doctor, lawyer or financial advisor committing an error, though seemingly negligible, may lead to losses or land their clients in unfortunate circumstances. In case of a lawsuit, these professionals may […]
If you are a professional service provider, you know the value of managing client relations and rapport in the market and how difficult it can be to maintain. A professional indemnity policy can help you avoid damage to the image or your financial health in the case of a claim of negligence by a customer. […]
In the field of health profession, medical negligence is an often used term demonstrating a deficit in doctor’s duties towards patient care. When a patient visits a doctor to consult him or her for treatment, the former trusts the latter completely. Respecting that trust as well as adhering to the ethics of the health profession, […]
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 […]
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 […]
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. […]
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 […]
