As a professional in your field, you probably already know that failure to deliver on the services you’ve promised can have dire consequences. What if you were not able to fulfil your obligations stipulated in a contract due to unforeseeable events? An unintentional breach of contract or professional duty could land you in hot water and result in a third-party lawsuit against you, making a huge dent in your pocket or business savings.
Even professionals with years of experience sometimes unintentionally renege on professional commitments or make an error. Professional Indemnity Insurance can protect professional service providers against financial and other third party claims, arising due to professional negligence, errors & omissions, poor advice, design errors and a host of other reasons.
But what exactly is covered and does your business or practise need it? InsuranceMarket.ae’s Ultimate Guide to Professional Indemnity Insurance is your FREE go-to guide to answer all your questions regarding Professional Indemnity Insurance.
Does Your Business Need Professional Indemnity Insurance?
If you provide professional advice, design, consultation or training for a fee, you are legally liable to make good any losses your clients or third parties suffer from any negligence in providing such services. Medical professionals, accountants, architects, consulting engineers, project managers, IT consultants, lawyers, real estate consultants and more should carry a Professional Indemnity Insurance to protect their business.
What Level of Cover Does Your Business Require?
A government or trade body may dictate the level of cover required. Limits offered vary by industry and are sometimes dictated by contracts. How premiums will be calculated, what documents you will be required to provide – our free guide gives you all the inside information on what insurers will look into when calculating your cover, so you’ll be well informed from the outset.
What Are the Risks You Face If You Choose Not to Have Professional Indemnity Insurance?
The risks of operating without Professional Indemnity Insurance are numerous and can be disastrous for your professional practice. Our guide lists and explains all the different kinds of liabilities your business might be exposed to or vulnerable to, including contractual liabilities, tort liabilities and financial risks.
As a professional service provider, can you really afford not to have professional indemnity cover against such risks? Maintaining the good standing and financial stability of a practise means that it’s crucial for professional service providers to protect themselves against the possibility of third-party claims with some level of Professional Indemnity Insurance.
Why Choose InsuranceMarket.ae?
InsuranceMarket.ae works with the leading insurers in the UAE. In addition to providing you with comparative quotes, our knowledge of various insurers capabilities and level of service means we can also negotiate competitive terms. InsuranceMarket.ae will assign a dedicated claims manager, and manage all administration on your policy, including additions and deletions, registering and negotiating claims and more.
Download the Ultimate Guide to Professional Indemnity Insurance now and get the inside scoop on everything you need to know to make an informed decision.