Professional liability insurance protects professionals against negligence and other claims initiated by their clients. This covers legal costs and expenses incurred and any damages or costs that may be awarded if a professional is alleged to have provided inadequate advice, services or designs that have caused their clients to lose money.
Lian Hong Pte. Ltd. is your one-stop general insurance agent representing some of the most reputable insurance companies in Singapore.
Advantages Of Professional Liability Insurance
Ability to Lower Premiums
Businesses can have some control over factors that reduce the cost of the premium.
They can do so by reducing risks in the workplace. For instance, businesses should ensure employees have the proper background to carry out their duties. They should require employees to complete safety training, and provide safe and well-equipped working conditions.
The extent to which these factors will affect the overall premium, however, depends partly on the type and status of the business.
Affordable and Time-Saving Protection
Professional liability insurance can save businesses considerable expenses if they have to make a claim. For example, if a business is sued, professional liability insurance can cover the cost of the lawsuit
Professional liability insurance can be purchased at an economical premium, although the exact cost varies. Factors which influence the costs include the size of the business, its history with claims, the level of interaction with the public and the amount of risk involved.
Why Choose Lian Hong?
With more than 35 years of industry experience, Lian Hong Pte. Ltd. is a reliable insurance company which provides the best services to our clients to meet their needs.
Our dedicated staff team provides all the necessary information required, allowing our clients to have a full understanding of their insurance packages purchased. We strive to provide the best insurance quotations for their comparison, enabling clients to make wise decisions in selecting an insurance package.