The word indemnity means insurance or protection. The professional indemnity in UAE insurance policy is meant for professionals who are involved in high risk job roles, like doctors for example. This policy covers the professionals of the liability due to a professional error caused by them or risk to reputation. Professionals in various industries are exposed to some risky situations as a part of their job profile on a daily basis. Such people should definitely consider speaking to indemnity insurance brokers in Dubai, because if the error has been caused by them, they will have to pay dearly and will also lose their reputation.
A professional indemnity insurance policy in Dubai, offers various benefits to the professionals apart from coverage. For example they offer a retroactive period (decrease of cost on insurance premiums) if the policy has been kept current consecutively. Group policies under professional indemnity in the UAE are also offered by FISCO under and are suitable for group practices like law firms, doctor’s offices and chartered accountants firms.
Coverage Plans for Indemnity Insurance
We, at FISCO, offer professional indemnity in UAE insurance for several types of professionals and they can be covered under individual policies or group policies:
- Doctors and other medical practitioners are covered by FISCO under the indemnity insurance plan for possible medical miscalculation or mistake. It covers all types of medical practitioners like doctors, surgeons, pathologists, cardiologists and physicians. Occasionally, we also cover physicians who practice alternative medicine. We cover law firms, lawyers and attorneys and all professionals who are involved in legal firms. The professional indemnity cover in Deira is very comprehensive and elaborate.
- FISCO indemnity insurance plans insure large medical establishments under group insurance policies. They cover entire medical establishments like hospitals and nursing homes and even rehabilitation centers for errors and omissions committed by the staff.
- We cover engineers, interior designers and architects completely for errors and omissions caused by them. An architectural fault can lead to damage to the building designed by these professionals.
- We also cover law firms, advocates, solicitors, lawyers and even counsels of the agency. Legal firms are at a higher risk for their errors. Any client can sue them, if they find that the lawyers did not handle the case well.
- As leading indemnity insurance brokers in Dubai, we also cover chartered accountants, financial professionals and managers or consultants of the firm.