Explosive Reasons Why Every Professional in Singapore Needs Professional Indemnity Insurance

Do you know that a single mistake can cripple your business and put your professional career to an untimely end? If you are aware of the risks businesses and professionals face as they do their jobs, you will know why it is important to take proactive steps to protect your business.  

One of the easiest ways to do this is by having professional indemnity insurance. Presently, most of the top-notch professionals in Singapore making headlines and killing it in business have Professional Indemnity insurance.

The reason they opt for Professional Indemnity insurance isn’t because they aren’t confident in their skill or don’t know how to wow their clients, but it’s because they know that they can make a mistake that can affect their client’s business.

So, if you are a professional who is serious about success, then you should opt for professional indemnity insurance as soon as possible.

The following article by CGU will help you understand what PI insurance is all about.  

Professional indemnity insurance explained

Professional Indemnity Insurance is an important type of cover for a business; however, it is particularly relevant to those in professions that provide advice for a living. A professional can be anyone who “provides advice or services of a skillful character according to an established discipline”. Read more here.

The above article has certainly brought to light some reasons why PI insurance is super important, especially for professionals who are just starting out. The article has given you a clear picture of how much it will likely cost you to get PI insurance. Read the next article to learn what PI insurance can protect you against.

The following article by fsb explains how PI insurance can help protect your business and career.

What do you need to know about Professional indemnity insurance?

Professional indemnity insurance is one of the many types of cover that is crucial for UK business service providers. So, how does the insurance protect a business, what companies might need it and when, and what should be considered to ensure what levels of cover are right? Read more here.

Surely, you now know a couple of things about PI insurance that you didn’t know before. You also now know some situations where PI insurance can help protect you and your business reputation. If you are still contemplating having PI insurance or are not really sure if it is for you, you are going to benefit from the next article.

The following article by iproinsure unveils some jaw-dropping benefits of having PI insurance

Why is professional indemnity insurance important?

Professional indemnity insurance can protect your business, and when your business is not only your baby but your livelihood, it makes sense to do just that. Professional Indemnity Insurance (PI) – or Professional Liability insurance as it is sometimes- Read more here.

 The above article has armed you with some important things you need to keep in mind before having PI insurance. The article has also brought to light some things that will determine the amount of coverage to opt for and some professionals in various industries that are required to have professional indemnity insurance.

Final note

Regardless of the size of your client base, it is wise that you have PI insurance as it can protect your business if you happen to make a mistake.

As a professional, you may be skeptical about having PI insurance either because you don’t know much about the benefits it offers or the cost of getting it. See; don’t allow these petty roadblocks to deter you from making one of the most important business decisions of your life.

If you are a professional, you should act right now and get PI insurance as soon as you can. You won’t regret it.

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