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Many insurers offer a professional indemnity (PI) policies. Corporates often assume that buying from a reputed insurer ensures the best product. One should know that an Insurers restrict their risk, even if it fetches a lower premium. No wonder that PI policies may differ widely in the coverage they provide. Having invested, your policy should apart from meeting insurance clauses, provide a sound protective shield from claims.

Many policies provide a basic breach of contract as per the policy wording. Another insurer wording may have provisions for breach of confidentiality included. A third may cover for claims arising out of libel and slander. A fourth may have unauthorized access including loss of data cover built in. A mistake in declaring the business correctly to the insurer can deny coverage to the undeclared business activity. it can get confusing and seeking help from liability insurance professional may be the first step. You may need more extensive help if you do face a claim.

Find an advisor who can invest their time understanding your business, services and products before creating the right plan. Look for cues to know if your advisor is familiar with differences between products different insurers have and not just selling a product. Having basic yardsticks will allow you to choose wisely.