Professional Indemnity Insurance
What is Professional Indemnity Insurance: An Overview
Have you ever wondered “what is professional indemnity insurance” and what professional indemnity insurance covers? Professional Indemnity Insurance is a type of business insurance that provides coverage for professionals who provide advice or services to clients. It protects professionals from financial losses if a client alleges negligence, errors or omissions, or breach of professional duty…
The importance of misappropriation of Trust Fund and Professional Indemnity Insurance for attorneys in South Africa
There has been an increasing prevalence of misappropriation (theft) of funds from attorneys’ trust accounts in these difficult economic times. Stories of attorneys who cannot account for trust funds abound; and the Law Societies are inundated with complaints. This highlights the importance of Misappropriation of Trust Fund coverand Professional Indemnity Insurance for attorneys. Many attorneys erroneously believe that…
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