In today’s litigious society, professionals need additional insurance cover to work in a risk-free environment. A professional indemnity insurance policy provides financial protection against any undesirable claim for any kind of negligence, error or omission that may result into a heavy loss to clients. The policy provides compensation for the inconvenience caused to clients. Hence, indemnity insurance is highly sought after insurance policy among professionals working in different industries.

What to Cover?

A professional insurance policy covers for claims against professional negligence, breach of contract, copyright infringement, data theft and such others. The amount of risk is limited to the working area of the professional and policies can be taken as per the desires of professionals. For instance, you hire a lawyer to defend in case you are accused in a dispute. Due to his wrongful advice or service you lost the case and have to bear a heavy loss. As a result, you can sue the professional to recover the losses caused to you by asking for the compensation. You can also file a lawsuit expressing your suffering to get adequate compensation to recover your loss. So, here the lawyer needs a PI insurance policy to protect his/her interests. In a case if a client asks for compensation, professionals pay through their insurance policy and avert any unpleasant situation.

The professional indemnity insurance cover protects a professional from other situations including:

• Copyright/patent infringement
• Breach of contract
• Dishonesty
• Libel & Slander

Online Indemnity Insurance Policy

Nowadays, it is easy to get a PI insurance cover online. Online insurance policies are processed easily and policy seekers don’t have to spend too much time in getting the right cover. In a few clicks, policy seekers can forward their requests and get a policy cover in a short period of time.