Services & Professional Liability Insurance
Insurance for Professional Services
The difference between the service industry and other industries is that many services need to be provided by professionals, such as loan services, real estate services, etc. If you want to protect your business as much as possible and have comprehensive risk control, then your business needs to consider professional liability insurance.
The difference between professional services in the service industry and other industries is that certain services need to be performed by professionals. In order to ensure that your business is as comprehensive as possible for risk-controlled management, you need to consider professional indemnity insurance.
Professional Indemnity Insurance
If your occupation or business involves in professional capacity with real estate agents, loss adjusters, bookkeepers, public relation consultants or even travel agents – to name a few – you will have professional responsibility to your clients or customers.
As a professional, you have a responsibility to your client to provide your service with suitable care and skill. If you breach this professional duty of care, your business may be liable to pay compensation to third parties for damage incurred as a result. This damage could include financial losses, physical injury, or damage to property. Professional indemnity insurance can help protect your business when such claims arise. Covering the costs of defending these claims alone can be considerable.
