Professional Indemnity

Professional indemnity is a type of business insurance. Typically for organizations and businesses that provides consultations or professional services. Since the nature of these businesses are highly confidential that even the smallest negligence can cause substantial financial loss to both parties.

While having a huge clientele is a great way to ensure long term finances. It can all go downhill if you are faced with a big indemnity claim due to your own mishaps. Professional indemnity insurance protects organizations and businesses from getting sued by unhappy customers.

During the tenure of their service, hefty costs arising due to the financial loss because of the errors and omissions in the service or consultation, the insurance company provides financial coverage focused on the alleged delivery failure by the service or consultation business.

Which is the main reason why most businesses and organizations in professional services and consultation services decide to take up Indemnity/Liability insurance deeds, because holding such insurance deeds can save their business from inadequate service claims, or indemnity claims due to their own negligence and mishaps resulting into coughing up a large sum to compensate their clients.