The basics of Safety Consultant Professional indemnity cover
Legal pitfalls may not be on your every day list of concerns, but they are a real risk and can spell serious trouble for some businesses. If you lose a case you may have to pay compensation, and simply defending an action can involve a considerable bill for solicitor’s fees. Safety consultant professional indemnity cover will pick up these costs, meaning you potentially have little or nothing to pay.
Indemnity cover is also sometimes known simply as professional indemnity insurance. In simple terms it is a policy which will pay your legal costs if you are ever accused formally of making an omission or error in your day to day work. Normally, this will happen if a client feels they have lost money because of something you have done incorrectly.
Most safety consultant professional indemnity cover policies cover mistakes, omissions, and acts of negligence. A safety consultant has a considerable amount of responsibility when carrying out assessments for clients, and errors can be potentially costly in terms of finance and safety. The stress of any claim would be exacerbated by the fact you have to pay a large legal bill if you’re not covered.
This type of insurance will normally also protect you against other things, such as if you lost a client’s valuable documents or data. It normally also includes protection for breach of confidence or copyright, and the dishonesty of a company’s employees.
You will need to decide what limit you want on the policy, as insurance companies do not pay out for unlimited amount of legal bills. However, apart from the excess, provided any fees you claim for are within this limit, you are unlikely to be left out of pocket because of a legal case.
Even if compensation is awarded to a successful complainant, safety consultant professional indemnity cover will pay this, again subject to certain limits. This means you can go about your everyday business without having to worry if a distressing legal claim ever did land on your doorstep. Retroactive cover can even be arranged, guarding against any claim which later arrives which dates right back to something which happened before you even bought the policy.
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