What is the importance of professional indemnity insurance?

by Guest » Tue Oct 15, 2013 08:56 am
Guest

Hello,

Do any one of you know about the necessity for a professional indemnity insurance. Would I need one, if I host online workshops on behalf of other experts/speakers? Say for example, my website promotes a workshop and get traffic to sign-up people and if required, then collect the payments too on behalf of the speakers. I will have my commission from there itself. But the original content would be that of the speaker’s. Will it be ok if just get a disclaimer posted on my website and then work out all the terms and conditions with the speaker? Or do I need to get a professional indemnity insurance? What will be the best course of action for me?

Total Comments: 2

Posted: Tue Oct 15, 2013 02:46 pm Post Subject:

"Indemnity" means to restore a person to whole. What are you indemnifying?

What kind of "online workshops" are you promoting? Will people lose money by attending one of your workshops?

Disclaimers are for "liability" issues, and often don't carry any protective weight, which is why you probably need some kind of liability insurance. Although a presenter may be liable for losses he causes another person to incur, as the go between, you could be hanging yourself out to dry too.

Your best course of action is to work with a local independent insurance agent/broker who can shop your liability needs to different companies.

Posted: Fri Sep 12, 2014 08:13 am Post Subject:

Professional Indemnity Insurance is really very helpful to provide essential financial protection when a client suffers client suffers financial loss. It provides your safety net in the case, when you have to pay for your mistake.

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