Professional Indemnity Insurance
Protect the professionals against breach of professional duty in the course of performing professional services
Any organisation which provides professional services or advisory services can be sued if their client is not satisfied with their works. Regardless how experienced you are or how good your services are, there are always disagreements in the business world. Once the client deems the services is unsatisfactory (e.g, negligence, bad quality, missed deadlines or even not up to their expectation), they may take legal action against you to recover the financial losses they are suffering or have suffered.
"My services fee is very small so my liability is very low”, “Such situation will never happen to me”. These are the common comments from the professionals. However, legal action often take place from an unforeseen event.
No matter if the allegation is true or false, the organisation will need to defense such claim and on the same time, continue in your business operation.
Some legal cases may be settled fast, but most of the legal cases take years to come to a conclusion or final judgement. This will make you have a hard and frustrating time running the business and the claim will also cause a devastating effect on your reputation.
Professional Indemnity is designed to provides cover to your company against legal liability in connection with the professional services rendered – Legal costs, damages and settlements. Some Professional Indemnity Insurance available in the market may extend to cover Public Relation Expenses where it assists to defend your reputation.
Contact us
+65 6221 1288 IES.EngineerSG@lockton.com
Stay connected
