Professional Indemnity Insurance for Economists
Economists are responsible for predicting trends in the ever-changing economy. They help various agencies to deal with money efficiently and are consulted when a change in economic policy is required.
Public Liability Insurance for Economists
If you or any of your employees visit a customers premises your actions could cause an injury to another person. Similarly, if an accident happens whilst a member of the public comes to your place of business and they are injured you could be held liable. Public Liability Insurance protects you in the event that such accidents occur and a claim is subsequently made against you.
Public liability insurance also covers you if damage is caused to third party property while at the customers business. An example would be if an employee broke a valuable item while making a delivery at a customer's home. The claim to replace the item would be covered by public liability insurance.
Why do Economists require Professional Indemnity Insurance?
Most of the work done by Economists is based on analysis, research and predicting the future. In this environment economists can also be negligent while performing many professional activities including:
- Conducting research
- Collecting and analyzing data
- Providing consultancy services and preparing reports
- Formulating and analyzing policy for public and private organizations
- Researching public issues
- Researching employment levels or energy costs
- Monitoring economic trends
- Developing forecasts
Any mistakes in the above mentioned activities by an Economist may lead to a law suit against them by their client. Professional indemnity Insurance for Economists will provide financial protection to assist in paying for any legal costs and damages from any such claims.
Key exposures for Economist:
- Mistakes in the collection and analysis of the data.
- Misleading research work.
- Faulty economic policies.
- Negligence in forecasting the future economic trends.
- Breach of confidentiality due to access to data and material.
- Miscalculating the exposures and providing wrongful advice in relation to economic rates, which could affect companies earnings and foreign investments.
Why purchase your Professional Indemnity Insurance through Express Insurance?
With Express Insurance, you can source a PI quote in seconds, and have the option of adding Public Liability Insurance. You can then proceed to buy the insurance and produce your Certificate of Insurance in minutes, or alternatively save the quote back to your email account for buying later.
And we save your details on Renewal of your insurance, making the process of renewing your PI Insurance even easier and quicker.
Throughout your experience with us our team of highly experienced PI specialists are a phone call away !
Please Note: Coverage under the policy will be subject to the particular circumstances relating to a claim and the full terms and conditions of the policy.