What is Professional Liability Insurance?

Professional Indemnity Insurance, also known as Professional Liability Insurance or Errors and Omissions Insurance (E&O), is a broad method of insurance protection established to safeguard your livelihood.

The business environment in Hong Kong, China, and Southeast Asia is dynamic and rapidly expanding and evolving.

And operating in today’s economic environment demands the coverage provided under a professional indemnity insurance policy – to help your business operation grow while avoiding or preventing risk.

What is covered with a Professional Liability Insurance?

Our professional indemnity insurance provides cover for:

  • Any claim for civil liability in the conduct of your business
  • Any actual or alleged breach of duty
  • Breach of warranty of authority
  • Breach of confidentiality occurring in the performance of professional services
  • Defamation
  • Intellectual property infringement
  • Emergency defense costs and legal representation expenses
  • Joint venture liability
  • Loss of documents
  • Newly-acquired subsidiaries
  • Dishonesty of employees
  • Run off cover for insured entity
  • Continuous cover
  • And many more.

There are several circumstances by which professional indemnity insurance is beneficial and/or required:

  • Financial Protection:

In the event of a business dispute that winds up going through the expensive, time-consuming process of litigation, Red Asia’s Professional Indemnity Insurance will protect you when dealing with such claims

  • Customer Protection:

Professional Indemnity Insurance reduces the concerns over financial loss and provides more certainty over the operation of your business, which leads to better service to your clients.

  • Legal Requirement:

Many professions are highly regulated and, therefore, are required by law to carry professional liability insurance.

  • Contractual Obligations:

In the event of cross-border transactions and engaging in overseas business deals, professionals are often required and/or credited when they carry professional indemnity insurance as a pre-requisite for contract negotiations.

  • Litigation Environment:

The rapidly-expanding business environment in Hong Kong, China, and Southeast Asia have led to an increasing number and scope of the litigious environment in this region. Professional Indemnity Insurance is here to protect you.

  • Reputation Protection:

As a professional, your reputation means so much. Our insurance team will guide you and protect your reputation in the event of a claim.

Who should be covered for Professional Liability Insurance?

At Red Asia Insurance, we offer protection for several industries. We designate specific policies tailored towards a vast range of professions, including:

  • Lawyers
  • Public accountants
  • Insurance Brokers
  • Company secretaries
  • Property managers
  • Real estate agencies
  • School educators
  • Architects
  • Engineers
  • Project managers
  • Surveyors and interior designers
  • Broadcasters for radio/television stations
  • Publishers, advertising agents, graphic designers, printers
  • Public relations consultants and event managers
  • Beauticians, hairdressers, spa operators, travel agents, health and fitness clubs
  • Counsellors, nutritionists and speech therapists
  • Consultants in several industries, including management consultants, marketing, etc.

Contact Red Asia Insurance today to learn more about Professional Indemnity Insurance. We are here to help protect your business and livelihood.

About us

Red Asia Insurance is a professional insurance intermediary based in Hong Kong. We offer a variety of services, including: Property Insurance (Office, Warehouse, Factory, etc.), Liability Insurance (Public, Professional, Product, etc.), Marine Cargo and Special Risks (and more). Our goal is to provide your company with authentic and professional insurance service so that your risk is managed and your business can grow and flourish.

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