Negligence claims 'are increasing' - Professional Indemnity Insurance

16/09/2008

Companies are facing an increasing number of negligence claims, it has been suggested.

SME Web reports that the total number of negligence claims being recorded is currently on the increase.

As such, the need for businesses to hold the correct forms of insurance may be greater than in the past.

The resource notes that Professional Indemnity (PI) insurance is one of the policy types that companies could choose to obtain.

"If you are the sort of business that provides expert advice PI insurance is a must," SME Web reports.

It adds that PI "can cover you against claims from your clients for damages caused by such negligent advice".

The article concludes that, while insurance is typically not a "pleasure purchase", it should still be prioritised by firms.

SME Web previously claimed that the total risk to which companies may be exposed by lacking the correct insurance could currently stand at over £3 billion.

Click here for more information on Professional Indemnity Insurance.

PYV are one of the UK's leading providers of professional indemnity insurance. This news article has been produced by Adfero in collaboration with PYV and its unauthorised use is not permitted.

(c) 2008 Adfero Ltd.

Click here to go back to archive list