What does professional mean? Well, a professional is someone who gives to another person another advice and/or services of a skillful character to a certain established discipline. This further means that persons other than those in traditional professions like lawyers and doctors are now regarded as professionals. It is highly emphasized that every professional today must have a professional indemnity policy. Good thing REAPI provides more info regarding this.
REAPI (Real Estate Agents Professional Indemnity) is a website that showcases great information regarding a professional indemnity policy. It is actually powered by Eagle Insurance Brokers. Eagle has a committed claims department that is headed by Ross Evans B Laws, B Science. He actually began his insurance career managing Professional Indemnity claims with AMP more than 12 years ago. Later, he help a claims management role by working with DLA Phillips Fox acting on behalf of Australian as well as overseas insurers. Most recently, he actually held a senior claims position with Vero Insurance.
In any case a claim will be filed against you, Eagle will collect all the necessary information from you and they will represent you to the insurer. In turn, this will leave you to stay much focused in your core business. Professional Indemnity Insurance actually has a unique legal and indemnity issues. Their role is to become your advocate. Also, they will provide reassurance and assistance through the entire claims process.
Some Professional Indemnity FAQ’s
What protection will a professional indemnity policy provide? – This policy will aim to shield the assets of a professional in case of a claim; thus, ensuring that he or she will be able to carry on his or her business. Remember that since every policy in the market is different, you have to compare each policy.
Why a professional need a professional indemnity policy? – Usually, a professional will hold themselves out as having a very special skill that can be relied upon by other people. Also, the law will require that the professional will exercise the necessary skill to a certain level expected by the profession. Since professionals are just human, they also commit some mistakes. Any injury, damage, or financial loss that arose from the mistake or failure by the professional might mean that an award is made in favour of the person suffering from injury, damage or loss. Also, a professional might held to be liable for a mistake even if there was no negligence. With that said, professionals will certainly need to have a professional indemnity policy.
Why Real Estate Agents Must Use REAPI?
- They can save money
- They will get the best cover
- They will save time
- They will receive the best and expert advice
For more info regarding REAPI, read on http://domainevaluation.blogspot.com/2014/11/reapi-real-estate-agents-professional.html.