The world in which professionals operate is one of ever increasing pressure, with demands for quick answers and cost effective solutions. Working in such a stressful environment can result in errors and omissions by the professionals, which may, in turn, result in a claim. This factor together with the litigious nature of the society underscores the need for protection against potential lawsuits, both for clients and professionals. Some of the professionals generally exposed to these risks are doctors, architects, consulting engineers, tax consultants, lawyers, accountants, etc.
Professional Indemnity Policies are slightly complex in nature and often require endorsing them to suit specific needs. It is hence, absolutely critical to seek professional help in designing such an insurance policy.