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List: bricolage-bugs
Subject: [Bricolage #364] Simple Terms Know More About Professional Indemnity Insurance
From: Lighthouse <no-reply () lighthouseapp ! com>
Date: 2015-04-02 4:14:11
Message-ID: 94a8051e0975c962028a4de0e3f069aa733a19b1_1 () bricolage ! lighthouseapp
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indemnitx updated ticket #364 on Apr 2nd, 2015 at 04:14 AM
A solicitor seeking protection under professional indemnity insurance is not \
something which most of us thought about being necessary until recent years. As the \
very name suggests, a solicitor is adept with his profession, with various laws and \
legislations that pertains to his area of expertise. In fact, the very status of a \
solicitor itself is a sure sign of authenticity and height of meticulousness, and he \
being charged for failure to deliver up to his standards is something which we never \
believed could be a possibility.
The situation is quite different nowadays. The overall industry scenario has become \
much volatile, making the jobs of solicitors tougher. A minute and unaccounted step \
has a good probability to leading to nasty claim against a solicitor, amounting to \
severe loss, loss of reputation, or both, and these are not uncommon. Hence, \
professional indemnity insurance is a necessity for solicitors even.
Professional <a href=https://professionalindemnityonline.co.uk>indemnity \
insurance</a> policies for solicitors are bit different from typical professional \
indemnity covers available for other professionals. Professional indemnity covers for \
solicitors are widely drawn. It should be noted that the type of service offered by \
solicitors are different in nature from other professionals and so are the types of \
claims that arise against solicitors. A typical policy covers civil liability arising \
in the course of work carried out in the course of private legal practice; however, \
there is some exclusion. Professional indemnity insurance for solicitors does not \
usually cover claims for negligence or breach of contract, but for breach of trust, \
breach of fiduciary duty, perceived dishonesty, etc. These are the areas where \
professional indemnity insurance policy that is applicable to other professionals \
differs from a professional indemnity cover for solicitors.
In most instances, a policy breach may result in claims going unpaid. In such \
situations, other professionals have policies that contain provisions limiting the \
rights of the <a href=https://professionalindemnityonline.co.uk>pi insurance</a> in \
cases of policy non-compliance; however, professional indemnity insurance policies \
for solicitors are in comparison more generous in nature of the cover provided.
It is very important that solicitors take note that while the cover may be widely \
drawn, it may not include any activity that typically does not come under the areas \
covered by a solicitor under normal circumstances. If any solicitor engages in any \
activity that falls outside the periphery of solicitation, it should be immaculate \
put across the insurance agency, who, in turn, will make sure that the offered policy \
covers the applicant from any claim.
--------------------------------------------------------------------------------
Assigned: Bugs (at bricolage)
State: new
View this ticket online: \
https://bricolage.lighthouseapp.com/projects/29601/tickets/364-simple-terms-know-more-about-professional-indemnity-insurance#ticket-364-1
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<p>
indemnitx updated
<a href="https://bricolage.lighthouseapp.com/projects/29601/tickets/364-simple-terms-know-more-about-professional-indemnity-insurance#ticket-364-1">ticket \
#364</a> on Apr 2nd, 2015 at 04:14 AM
</p>
<blockquote style="color: #666; margin-bottom: 25px">
<div><p>A solicitor seeking protection under professional indemnity
insurance is not something which most of us thought about being
necessary until recent years. As the very name suggests, a
solicitor is adept with his profession, with various laws and
legislations that pertains to his area of expertise. In fact, the
very status of a solicitor itself is a sure sign of authenticity
and height of meticulousness, and he being charged for failure to
deliver up to his standards is something which we never believed
could be a possibility.</p>
<p>The situation is quite different nowadays. The overall industry
scenario has become much volatile, making the jobs of solicitors
tougher. A minute and unaccounted step has a good probability to
leading to nasty claim against a solicitor, amounting to severe
loss, loss of reputation, or both, and these are not uncommon.
Hence, professional indemnity insurance is a necessity for
solicitors even.</p>
<p>Professional <a href="https://professionalindemnityonline.co.uk">indemnity \
insurance</a> policies for solicitors are bit different from typical professional
indemnity covers available for other professionals. Professional
indemnity covers for solicitors are widely drawn. It should be
noted that the type of service offered by solicitors are different
in nature from other professionals and so are the types of claims
that arise against solicitors. A typical policy covers civil
liability arising in the course of work carried out in the course
of private legal practice; however, there is some exclusion.
Professional indemnity insurance for solicitors does not usually
cover claims for negligence or breach of contract, but for breach
of trust, breach of fiduciary duty, perceived dishonesty, etc.
These are the areas where professional indemnity insurance policy
that is applicable to other professionals differs from a
professional indemnity cover for solicitors.</p>
<p>In most instances, a policy breach may result in claims going
unpaid. In such situations, other professionals have policies that
contain provisions limiting the rights of the <a \
href="https://professionalindemnityonline.co.uk">pi insurance</a> in cases of \
policy non-compliance; however, professional indemnity insurance policies for \
solicitors are in comparison more generous in nature of the cover provided.</p>
<p>It is very important that solicitors take note that while the
cover may be widely drawn, it may not include any activity that
typically does not come under the areas covered by a solicitor
under normal circumstances. If any solicitor engages in any
activity that falls outside the periphery of solicitation, it
should be immaculate put across the insurance agency, who, in turn,
will make sure that the offered policy covers the applicant from
any claim.</p></div>
</blockquote>
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<ul style="margin-bottom: 20px; padding-left: 20px">
<li><b>Assigned:</b> Bugs (at bricolage)</li>
<li><b>State:</b> <span style="font-weight:bold; color: \
#ff1177">new</span> </ul>
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