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“The good physician treats the disease; the great physician treats the patient who has the disease.”
William Osler
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What is Professional Indemnity Insurance?
Professional Indemnity Insurance (PI Insurance) is a type of coverage designed to protect professionals and businesses against claims of negligence, errors, omissions, or breaches of duty that result in financial loss for their clients. This insurance is essential for anyone who provides advice, services, or expertise to clients, ensuring that you are financially protected if a client alleges that your professional services caused them harm.
Why Do You Need Professional Indemnity Insurance?
Protect Your Business: In the event of a claim, Professional Indemnity Insurance covers legal costs, compensation, and associated expenses, preventing significant financial strain on your business.
Maintain Reputation: Addressing claims professionally and efficiently helps maintain your business’s reputation and client trust.
Contractual Requirement: Many clients, particularly in regulated industries, require proof of PI Insurance before entering into a contract
Peace of Mind: Knowing that you are protected allows you to focus on delivering high-quality services without the constant worry of potential legal action.