All of us want to be protected from potential hazards and in today’s life insurance is part and parcel of our lives in a big way. But insurance has certain limitations and that is the precise reason why the professional indemnity insurance originated. The professional indemnity insurance has caught the world by storm ever since its arrival. The concept of the professional indemnity insurance had its inception in the United States of America and covers a wide domain rather than the normal insurance cover. Hence the popularity of the professional indemnity insurance is felt big time.
While throwing a glance on this form of insurance, it is widely existent in all the sectors though the medical and accounting world being the most important. It also has to be mentioned that a lot of charitable organisations and bodies also follow this concept big time. From the point of coverage it is done on a case by case basis and it generally depends on the period of claim. A general insurance covers only certain major features but this form of insurance is wider in scope. One thing which needs to be mentioned is that this form of insurance does not include criminal as well as certain civil issues.
