First thing is first ? what exactly is indemnity insurance? Also known as professional indemnity insurance, the purpose of this type of coverage is to protect people when they are found to be at fault for an incident or specific event that causes economic losses for other parties. In other words, if a person has an accident in their workplace and the employer has taken out indemnity insurance, the employer is economically covered against any claims that the employee may submit.
So, who needs indemnity insurance? If you are a business owner and you have one or more employees, then some level of indemnity insurance is certainly recommended. But this type of insurance doesn't just protect you against claims made by your employees - you are also covered against any single person, corporate body or other institution submitting a claim. This could be for injury, damages to the person or their property, or any form of negligent behaviour against you personally, your business or any of your staff members.
How and where can I take out indemnity insurance? There are loads of insurance companies around that offer indemnity insurance policies. For a great one stop shop of indemnity insurance providers check out Quoteline Direct. These guys offer some of the most competitive indemnity insurance policies in the UK, and with some great benefits. According to their website, indemnity policies start from as little as £125 per annum, and flexible payment terms can also be arranged. What is more, they can now arrange instant cover for you online.
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