Professional Indemnity Insurance
professional indemnity insurance
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Why would this clause be included in our standard terms and conditions?
Hi everyone,
Why do you think this clause has been included in my company’s standard terms and conditions for services –
In performing Services, the company shall obtain and maintain worker related, pulic liability, motor vehicle, and professional indemnity insurances.
Thanks!
If your company engages another for services and they do not have insurance, damages resulting from their negligence would likely be born by your company.
Professional Liability insurance (for freelance workers)
If you work as a freelance contractor, you need a PI insurance cover your legal to fulfill duties and obligations. Today you have noticed that your customers are insisting on proof of your PI insurance before have with their contract. Whether you work from home, access overseas or clientsâ € ™, you need to insure your concerns and protect themselves with a professional liability insurance.
As freelance entrepreneur, you have a responsibility to your customers. Your mistake can become a costly affair for them. Your customers have a remedy and to seek justice for their financial losses. If the agreement is not to protect you under all circumstances. Professional Liability insurance offers you the freedom in Your profession, regardless of whether your client € ™ s claim is small or large.
There is a wide range of insurance products exclusively tailored to the needs of professional contractors. Without going here and there you can take immediate online insurance quotes to cover purchase and even download your policy certificate within a few minutes from the comfort of your home.
In case one of your customers or suffer financial loss by an error, omission or negligent act caused by you, the PI insurance save you and make your cost of litigation. Suppose you are an IT entrepreneur and you make a mistake by accident, while the development of the software. This can can be a delay of delivery and your customer require a substantial compensation from you. You can independently work if you have the professional liability insurance . You can defend your case against a fully IR35 Judgement. In addition, the premiums paid by you from the tax are allowed.
If you are a professional you protected as a freelance active contract business today, you need not worry about defending the claims of the past against you or the future damage caused and may of you has to pay. As the PI insurance adds great value to your profession, you can manage your job in a better way than before.
