Be Warned – Get Professional Indemnity Insurance!
Indemnity means security against loss/damage, or exemption from incurred penalties/ liabilities. A professional engaged or employed for a specific work makes a mistake due to his negligence or misjudgment when he should have known better, and causes a hurt or a loss to a person or an organization, he (or she, as the case may be) is liable to compensate for the hurt or the loss. An liability insurance policy for this purpose is known as Professional Indemnity Insurance. Read the rest of this entry »