Professional liability insurance protects the insured against claims against the professional WRT perceived or actual negligent performance of the tasks done.
Scope:
Doctors, medical facilities, businesses, engineers, architects, interior designers, accountants, financial accountants, management consultants, lawyers, lawyers, notaries and lawyers are professionals who can take this insurance scheme. If your business is to sell your skills or knowledge or advice of a professional liability insurance is a wise decision for you.
Liabilities covered:
Professional Indemnity Insurance supports offsets, you may have to a customer to pay a claim submitted for professional negligence. Another advantage of this insurance company is that they are all legal fees you incurred in the event of such persecution, covers. The coverage under the policy are given compensation to the insured against legal liability and transfers it to the insurance.
It is important to understand that professional indemnity insurance does not provide coverage for an unlimited time or unlimited fine. Like any other policy, the policy only work for a specified period, which is clearly stated in the terms of the agreement. In addition, it provides coverage only for a certain amount that is decided yet, at the time of the agreement.
Risks covered:
If a range of professional services such as consulting, planning, monitoring and counseling instead of a fee or provided free of charge, the law that binds with a duty of care for the customer. One can safely assume that it will exercise reasonable care and skill in carrying out its duties and can not be held liable if he does not.
For interior designers, engineers and architects, the policy provides insurance against the risks of damage to property, construction, and death or injury that could be attributed to a negligent act, error or omission.
For accountants, consultants and lawyers, the insurance provides cover against legal liability incurred by the insured for the losses to clients arising from acts, errors or omissions on his part or on one of his employees named in the policy.
Not applicable:
The professional liability insurance is not applicable in the following cases:
A crime or violation of any law of the Statute
The work performed under the influence of drugs or intoxicants
Performance of dentists with general anesthesia or any procedure performed under general anesthesia, unless performed in a hospital
Willful neglect or willful act
Third Party Disclaimer
Pure economic loss due to the loss of goodwill or loss of market
Professional allowances to cover your liability insurance will be reassured to know total compliment to you that you are covered for all potential claims.
No comments:
Post a Comment