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Non Life Insurance - Why legal advisors should buy insurance?
11-Jan-2003
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Worldwide, corporate movers and shakers merge and de-emerge corporations and companies in their bid for power and glory, they require extensive help from their legal advisors to understand the working and weaknesses of the modern legal system.

Being a legal advisor, you work long hours during important cases, holding consultations and discussing boardroom moves. But at times, the results are not what you expected since the scales do not always dip in your favour.

Sadly, your client misinterprets a twist of fate as lack of professionalism on your side and sues you for a major amount owing to his belief that you might have been negligent and cost him this one major milestone in his career. Doubts and apprehensions have always been the bane of the human mindset and the situation is not likely to change in the near future either.

To add insult to injury, the courts pass a ruling that you have been grossly negligent while discharging your professional duties and order to pay your corporate ex-client a large sum of compensation.

True, this scenario is an assumed one. But assumptions are based on reality and it might serve you well to invest in a Professional Indemnity insurance policy.

Your Professional Indemnity insurance policy may not protect you from bodily injury or harm. For that, we suggest that you have a look at Medical Insurance plans instead. But what Professional Indemnity does for you is protect you from legal libel and defamation initiated by antagonistic and ungrateful clients.

Source : insuremagic.com back