subject: The Safety Offered By Professional Liability Insurance [print this page] Everyone will have a certain amount of responsibility attached to their job, but some people have far more than others. And if your profession involves that much accountability, then it will be necessary to have some form of protection in place. Professional liability insurance by Staveley Head will offer a high standard of security to anyone who is working in an industry where responsibility is one of the most important facets of the job.
Some individuals will be required by law to have this type of insurance. Financial advisors, accountants and solicitors are all legally obliged to have professional liability cover before they are able to go about their work. And if you think just how important their advice is to their clients, then it is very easy to understand why!
Other individuals may not be forced to have this kind of protection in place, but they would be strongly advised to... If you are working as an engineer, graphic designer or an architect, then you will still have to make a lot of important suggestions or decisions. And this is all well and good until something goes wrong!
If you are seen as being an authority or expert within your area of work, then professional liability cover should be a serious consideration. Everyone will get things wrong every so often and, if important clients are involved, it can have some pretty serious consequences...
Imagine if you were working as an architect on a large building project and you made a terrible mistake with some of your calculations. This may not even become apparent until your client was a good way into the actual construction process. The chances are that the mistake could be rectified, but it would cost a great deal more than originally estimated. And if this were the case, then it would not be the kind of thing that most clients would simply shrug off and put down to experience! If building costs turned out to be higher, then they would probably take you to court and allow you foot their bill.
As you will appreciate, costly mistakes can occur in many different professions. It makes sense then to have a relevant type of insurance in place which will act as a safety net. If the very worst should happen, then at least you will have some degree of protection. Professional liability cover is only the sort of thing that you would use as a very last resort, but it could end up saving you an enormous amount of money in legal costs. Hopefully, you will never need to fall back on this type of cover, but it is always good to know that it is there.
Some of us will think it is unnecessary to have this type of insurance in place. However, we will all make mistakes from time to time, no matter how good we are at our jobs. And this is not pessimism, it is realism! Most of us will do our very best to get everything right but, at the end of the day, we are all only human...
by: Jack Authors
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