Chartered accountants in India to get 100% Professional Indemnity Insurance cove

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Traditionally, few firms of Chartered Accountants in India have ever taken out professional indemnity insurance. Not only has it never been a legal requirement, the amount of cover per claim has been limited to just 25% of the aggregated policy limit by the state-owned general insurers. To many firms, self-insurance seemed to offer a better deal than paying what was effectively a four-fold premium.

Now however, a new professional indemnity insurance product has been launched by Tata AIG General Insurance Company. It has been designed specifically for Chartered Accountants and will offer them 100% cover for the first time. One feature, unusual from a UK perspective, is that, in the event of a claim, Tata AIG will appoint the lawyers to provide representation directly rather than simply reimbursing the cost.

To find the professional indemnity insurance you need, call 03333 211403.