MISTAKES CAN´T BE AVOIDED - REPERCUSSIONS CAN...
Even the best Companies can have the worst of luck, and any professional these days is vulnerable to claims of negligence. Your professional advice or services can fail to meet a client's expectations, and often through no fault of your own you can be on the receiving end of legal action from clients who believe that they have suffered financial loss as a result of advice or services received from you.
Organisations such as solicitors, arquitects, accountants, mortgage brokers, management consultants, communications and technology companies are increasingly at risk from this trend as society increasingly looks to hold third parties responsible for any loss.
Even if you or your company are not at fault, the third party who considers that they have suffered financial loss may choose to make a claim against you, and you will be obliged to defend yourself. The legal fees associated with your defence can be potentially crippling, so it makes perfect sense to have a suitable Professional Indemnity Insurance policy in force which will pick up the cost of any legal defence.