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Most of the time, people are confused between professional indemnity (PI) insurance and general and product liability insurance. Professional liability insurance provides coverage to professionals, companies and individuals against any act, error, negligence or omission that occurs during their professional and work activities. Professional liability, unlike the other two, professional compensation is for professionals such as engineers, doctors, architects, and lawyers, who provide advice to their clients.
Product liability is the legal liability applicable to a company that manufactures its products for its customers. Product liability associated with the manufacture of any product due to negligence. This includes defective or defective components, manufacturing process or execution. Product liability arises primarily from failure to meet manufacturer’s production standards, resulting in the production of defective components and products.
In addition to general liability and product liability insurance, professional liability and negligence apply to professional services and hearings for most knowledgeable workers. Professional Liability Insurance For Manufacturers, Insurance Information Services and Professional Negligence are delivered to the client, which covers an act of negligence, error or omission in the performance of their professional service. It includes professional activities, accounting, design, consulting, feasibility studies, maps, monitoring and preparation of specifications.
Professional Liability Insurance protects the Insured and all its employees and directors from the liabilities they incur as a result of their professional negligence. Professional liability insurance covers legal liability for payment to a third party who has suffered damage, injury or damage as a result of negligence of duty and professional activities as a result of negligence, error or professional negligence.
Professional indemnity insurance coverage is coverage for any third party, accounting for only one third of the insurance does not cover property, because the insured is against third party insurance companies. Professional liability insurance for liability coverage is from the planning stages to inception, but the requirement does not apply until the product and product are delivered to Al-Tamanneh. Professional liability insurance differs from product liability and general liability coverage, and acts as an effective insurance coverage for any type of professional negligence.
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