Protect your business with professional indemnity insurance from BizCover

Online, January 14, 2010 (Newswire.com) - Sydney, Australia: In legal parlance, the term "professional indemnity insurance" was never a lesser known one. It is an indemnity insurance that protects the business professionals against litigation claims filed by clients. BizCover is a popular name among insurance providers that aims at indemnifying business professionals against litigation claims.
The term "professional indemnity insurance" encloses professionals like accountants, solicitors, medical workers, engineers; however, nowadays the services of architects, designers and real estate consultants too are included within the purview. The need for professional indemnity insurance cover is strongly felt by professionals who are engaged in providing financial advice and consultancy to clients. Human beings are prone to making mistakes. But errors or omissions made in the course of professional services may amount to physical loss of data and information which may cause hefty financial claims on the part of client. Unforeseen claims are hazardous and may jeopardize the financial wellbeing of a company. To mitigate this, BizCover equips you with a choice of insurance packages from leading insurers across Australia. The best part is that we provide you with a price comparison chart where you get to see the quotes from leading insurers and assess them according to your needs. This cover also provides cover for legal expenses and defense costs that may be incurred in the process.
The policies provided by BizCover are claims made based policies. Claims made policy means
that the policy responds to:
• Claims first made against you during the policy period; and
• Events of which you become aware during the policy period, which could give rise
to a future claim provided that you notify the Insurer during the policy period
of the circumstances of such events.
• Both situations described above are subject to the advice that resulted in the claim
circumstance, being provided after the retroactive date.
When the policy expires, no claims can be made on the policy even though the event
giving rise to the claim may have occurred during the policy period. It is therefore
essential that you always notify the insurer of any events of which you become aware
during the policy period, which could give rise to a future claim. Failure to notify
during the current policy period may result in the insurer declining to pay the
relevant claim.
So, if you are in need of an insurance cover, our services are available on your doorstep (or mouse pad). BizCover insurance services are available 24/7, 365 days a year and in case of more queries, please visit us at http://www.bizcover.com.au