Private Investigator Or Professional Indemnity Insurance?
Have you always wanted to have your own PI? Someone to skulk around in dark alleys investigating all those mysterious goings on? It could be a cool way to protect your livelihood if you find out someone is threatening your business. Though it might be fun to feel like you’re in a film noir, there’s another type of PI that would be much better for your business – professional indemnity insurance. Professional indemnity insurance benefits you by having your back when things go wrong, so you don’t need someone skulking around in the dark for you.
Both Professional indemnity insurance and a PI…
Help You When You’re in Trouble
If your business ever happens to be in trouble, both a PI and professional indemnity insurance could help you out. But while hiring a PI probably means sending them off to investigate the case, and perhaps catch out a liar, professional indemnity insurance is a little different. It can come to your rescue when you need to cover the monetary costs of facing a claim against you. You could be accused of anything from libel to negligence, but professional indemnity insurance helps to protect you.
Not only can your insurance provider pay out if you need to make a claim, but they can help you avoid having to pay for anything too. If someone is threatening to make a claim against you, you can call and talk to your insurance provider. You might not need to make a claim just yet, but they might advise you about your next steps. By having professional indemnity insurance, you could avoid having to deal with any legal issues at all.
Avoid Employees Causing Trouble
Even with all the correct training and hiring practices, you can never have complete control over your employees. One thing you can do to ensure they don’t go rogue or do anything wrong is carry out pre-employment checks. This is something you can use a private investigator for if you want to do a thorough job. Perhaps a simpler way to protect your business from your employees however is to have professional indemnity insurance. If an employee ever manages to get your company in trouble, your professional indemnity insurance will help you out when covering the costs of the damages caused.
Form Better Business Relationships
Private investigators can also help you check out other businesses to ensure they’re legitimate – and other businesses might do the same for you. But having professional indemnity insurance can also help to protect you from unscrupulous businesses and help you to form better business relationships. It will protect you if another business does happen to make a claim against you. Importantly, it will help you long before that too. When you take out professional indemnity insurance, you can show other businesses that they can trust you.
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