piinsurance1v
Joined: 10 Sep 2013
Posts: 1
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 Posted: Tue Sep 10, 2013 7:15 am Post subject: Professional Indemnity Insurance Safeguards Your Personal As |
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We live in a world that expects perfection from us no matter what form of employment we are in. One slip-up and there is someone to pull us up and question us. This is where the importance of Professional Indemnity insurance is realized.
Professional Indemnity (PI) insurance is a cover that protects professionals like doctors, consultants, lawyers, architects, bankers, engineers, and designers, among others, from claims made by clients when they suffer a personal or monetary loss. Finance professionals will benefit enormously with this insurance, especially considering the number of banks facing problems after the sub-prime crisis.
Need for Professional Indemnity Insurance
* If your job exposes you to a potential and reasonably sizeable risk of being sued, you should consider taking liability insurance.
* The growing size of companies entails large groups of people working on single projects at different levels and phases. When there is an error in the functioning, it is difficult to fix the blame solely on one person. The company head cannot be held responsible for the mistakes of his or her employees. If this is done, he would be bankrupt in no time. A sensible thing to do would be to take Professional Indemnity insurance to protect his or her assets.
* In the competitive cut-throat world of business, there will always be some people who will try to pull you down. You must arm yourself with financial and legal safeguards to counter such situations.
indemnity insurance
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