Things to Know about Professional Indemnity Insurance

indemnityinsuranceThere is hardly any professional who would agree to being accused of unethical acts by clients, whether such allegations are even true or not. To be indicted from doing such acts is not only damaging to the professional career of a person, but it also damages his overall reputation. Fortunately, professionals can protect themselves with professional indemnity insurance for any financial loss brought by clients who are intent in crippling you both financially and in reputation.

Professionals and businesses are eligible to get professional indemnity insurance as this is a means of protecting not just their financial interest, but also their reputation and respectability in their chosen industry. There are actually some laws that mandate certain professions and businesses to have this type of insurance. This will include architects, financial advisers, mortgage intermediaries, and insurance brokers. However, for some professions and businesses, this type of insurance is not mandatory; nevertheless, it is recommended or encouraged for them to have it.

Professional indemnity insurance is an insurance coverage designed to give protection to professionals and businesses over services provided but incurs mistakes wherein their clients sue them and insists on claims. Whether the accusations are true or not, this is simply the common dangers faced by professionals and businesses that provide professional services.

Here is a basic list of coverage covered by professional indemnity insurance.

  1. Negligence – failure to act responsibly and with care that results in damages.
  2. Dishonesty – may refer to cheating, lying, or stealing.
  3. Loss of Documents – the incurring of loss or damage to valuable documents or date owned by the client.
  4. Intellectual Property – the infringing of patents, copyrights, trademarks, and other intangible property that are a result of creativity.
  5. Civil Liability – legal obligations from breach of contract.

The premiums involved when getting professional indemnity insurance depends on the risks involved by the business or the professional. Nevertheless, the benefit brought about by having such insurance will surely compensate the cost of the insurance premium. This makes professional indemnity insurance an invaluable investment for professionals and/or businesses as it provides them with financial protection and security and that it also helps in saving their professional interest and reputation. If you provide professional services to clients, then it is in your best interest to invest in such insurance protection.

The Value of Conducting a DiSC Profile Assessment

discprofileAptitude tests, personality tests, psychometrics – such tests are made for the purpose of understanding a person’s personality and for understanding each and every one of ourselves as a unique individual.  If your job involves recruiting, managing or developing people, then it is a wise decision to try using these kinds of tests, for instance, conducting a DiSC profile assessment.

What Does DiSC Mean?

DiSC stands for dominance, influence, steadiness and conscientiousness.  These 4 letters actually and realistically describes the 4 human behavior patterns or styles.  As one person is entirely unique from the others, it has been noted that there are some people who possess just only one style while others possess two, and there are some people who can even possess 3 styles.

The Value of Conducting a DiSC profile Assessment Test

If you have never used a personality test before as one of your tools in hiring potential workers into your company or managing/developing their skills to make the company stronger, then you will definitely find some value in conducting a DiSC profile assessment right now.

By conducting DiSC profile assessments to the people in your company, you get to learn and understand more about yourself, your workmates, your boss, even your clients, and you will at some point attain overall harmonious relationships that is conducive to productivity at work not just in the office, but also anywhere you may be.

With the help of the disc certification online, you will find out which employees can be potential leaders, and which ones would do pretty well as the followers. Not only that, you will also get to further understand that there are leaders who prefer to do the projects hands-on while there are those who are more effective in supervising and micro-managing workers, instructing them what to do and how to do it in the best way possible. There are also some leaders who prefer to lead yet still implement solutions based on the input and ideas of their subordinates after it has been discussed and approved.  Such leader-type personalities include emotions and thought processes such as sensing, feeling, judging, insight, ability to perceive potential outcomes, etc.

For those who have already used many personality tests and the DiSC profile assessment whilst hiring and improving employees, they will definitely agree that the DiSC profile assessment tests really has value – it helps employers or the hiring manager to build up productive teams, boost up sales and deliver satisfactory customer service via training employees to understand themselves and their customers even better.