Why Take Out Professional Indemnity Insurance?

A Professional will hold himself or herself out as having a special skill, which can be relied upon by another. Consequently the law requires that the Professional exercise the required skill to an appropriate level expected by that profession. Professionals are only human and mistakes do happen. Any financial loss, injury or damage arising from a mistake or failure by the Professional to exercise the required level of skill may mean that an award is made in favour of a person who suffers a loss, damage or injury. It is also not uncommon for a Professional to be held at least partly responsible for a mistake even where there has been no proven negligence on their part.

 

It is important to remember that Professional Indemnity Insurance doesn't just protect you from the financial loss associated with third party claims. It also protects your reputation, which is essential for a healthy, profitable trading environment.

 

At London Australia Underwriting we have a policy wording to suit almost every Professional requiring cover. In addition to the main policy wordings we also have the ability to create tailored policy solutions for niche industry areas that require something a little different.

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