|
Professional liability insurance - covering you from claims against professional negligence |
Article Submitted by: Editor 123
Monday, 23 February 2009
|
Professional indemnity insurance falls in the genre of liability insurance and is popularly known as "errors and omissions" or "malpractice" insurance. Professions that are advisory in nature are more prone to risks. Your client can claim against any financial or image damage caused due to mistake, negligence, omission, breach of contract, unintentional copyright violation on your part. If you are contributing any written material, there may be claims for slander or defamation. Whether true or false, once the client claims for compensation, you have to bear the legal cost. The legal expenditure might be thousands of pounds. In such a situation, professional liability insurance helps a lot by safeguarding you from any financial loss. Professional indemnity insurance comes into rescue only when a claim is made. No matter whether you win or loose in the legal battle, the insurance policy covers your legal costs. However, in many cases, insurance companies chose out-of-court settlement to help both parties from unnecessary legal hassles. There are some professional indemnity policies that cover your negligence and errors from an earlier date of purchase. However, your mistakes need to be unintentional for this coverage. These policies can not safe guard you if you change your profession. You can opt for professional indemnity insurance policies with ‘run off' cover for better protection. This cover safeguards you till additional three years if you are going to retire or taking a professional break. This coverage does not charge any extra payment and helps you if there is any late claim. Earlier professional liability insurance was sought by legal and accountancy professionals only. However, with increased consumer awareness, risk level and number of judgments going in favour of clients, professionals from a wide array of industries are opting for this. Advent of internet has made buying professional liability insurance easier. Article Source: http://www.ArticleBlast.com |
About The Author:
For further information on Indemnity Insurance and professional liability insurance, please contact Coulson Pritchard Associates on 01480 470220 or visit at www.coulsonpritchard.com
For further information on Indemnity Insurance and professional liability insurance, please contact Coulson Pritchard Associates on 01480 470220 or visit at www.coulsonpritchard.com
You are welcome to publish this article free of charge on your website, newsletter, or e-zine, provided:
- You don't change the article in any way
- You include the entire article, including the "about the author" box
- All hyperlinks must remain intact, including email addresses, and the link to ArticleBlast.com at the bottom
- In doing so you agree to indemnify the article's author, and ArticleBlast.com and its directors, officers, employees and agents from and against all losses, claims, damages and liabilities which arise out of its use
- It is also recommended that you provide a courtesy copy of your publication to the author of the article
