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Professional Indemnity (PI) insurance is the safety net that protects you if your practice's risk management strategies fail. If a client or third party is unhappy with your advice they may hold you, their accountant, legally responsible and make a claim for economic loss. Company Secretaries and Accountants can also be found liable for breach of contract, negligence or breach of statute, such as misleading and deceptive conduct in consumer protection laws.
PI Insurance will assist with protecting you personally, your employees and your business against claims. The Policy will indemnify the Insured in respect of ERRORS and / or OMISSIONS on behalf of you and your named employees, partners while rendering professional services.
The policy pays other parties for damages which you are legally liable to pay as a result of negligent acts, errors or omissions in the performance of your professional services including defense cost, court attendance fee etc. The insurance company has an obligation to defend you against such claims, even if the allegations ultimately are determined to be false or groundless.
Below are some exclusions under the professional indemnity policy copy:
Get an easy access to this plan and be covered against any claim pertaining to the professional services rendered by you and live risk-free. Helps to protect reputation of your practice, personal integrity & personal assets.
The plan offered by Oriental Insurance Company Ltd, not only protects you against the professional risks but also covers all costs associated with legal procedures and claim settlement along with an obligation to defend you.
Insurer: Oriental Insurance Company
Insurance Consultant/Broker: Marsh India Insurance Brokers Pvt. Ltd.