The Present and Future of Professional Indemnity Insurance in Singapore

The professional liability insurance market in Singapore is competitive and consists of experienced players who have been killing it big and a handful of new entrants. The obvious reason why the PI market is booming in basically every part of the world is that professionals in different industries are abreast with the benefits it offers. They have come to see that the protection it offers is unmatched such as the professional indemnity insurance offered here:


In fact, it is now mandatory for professionals in certain industries to opt for it because of the risks involved in their profession. The bottom line is that PI insurance space is doing excellently well right now, but what do you think will happen in 3 to 6 years? If you don’t know and are curious about its future, you are going to find this article useful, as it contains the results of in-depth research that was conducted about the present and future of professional indemnity insurance.



The following article by Anita shed unveils some important details about research on PI insurance that was conducted not too long ago.


Professional Liability Insurance Market 2019 Industry Analysis, Global Trends, Size, Applications, Share, Sale, Growth Insight, New Development & Forecast To 2025


The competitive landscape of the global Professional Liability Insurance market consists of several prominent players prevailing in the market plus several new entrants. Some of the key players in the market include Chubb (ACE), Read more here.


You are likely now grounded with the trends, size, sales, growth, new development, and forecast of the Professional insurance market. You also now have an idea of how much PI markets is likely going to grow in years to come. But do you have a clear a picture of the benefits you will enjoy when you opt for it right now? If you don’t, I suggest you read the next article carefully.



The following article by Lawsociety shed light on what Professional insurance cover.


Professional Insurance Cover


The Scheme Insurance is arranged on behalf of each practicing member of the Law Society by the Council of the Law Society (the “Council”), under their statutory powers under section 75A of the Legal Profession Act. The Council negotiates the coverage and policy wordings. Read more here.


You likely now that professional indemnity insurance can help protect professionals when they make mistake, like an omission or when the advice they offer doesn’t yield good results. You also now know that it doesn’t cover losses caused by dishonesty or fraud. Believe me, there are still a lot of things you still don’t know about PI insurance. Want to get an overview of everything PI insurance is all about? If yes, read the next article carefully.




The following article by ProfessionalIndemnity shed light on basically everything you need to know about PI insurance.


Professional Indemnity Insurance Explained


Professional indemnity insurance (also known as professional liability insurance), is a large and growing sector of the commercial insurance market, with many insurance companies actively fighting for market share and offering different types of products both online and off-line. Read more here.


You surely now have a clearer picture of what Professional indemnity insurance is all about, and what it covers and doesn’t cover. You also now know the answers to some frequently asked questions about PI insurance that you probably didn’t know before. If you still have questions or aren’t really clear with certain issues concerning it, then you should consult an expert promptly.



Final note


Because of the trends, growth, and new development in the Professional insurance industry, more and more professionals in basically every part of the world are opting for PI insurance.

The obvious reason for this is that they want to protect their business and career.

Many of them have come to see that nothing is 100% certain, and the services they offer may not provide the best results to their clients.


So, if you are a professional looking to becoming one of the top guns in your industry, you must take steps to protect your business. One of the best ways to do this is by having PI insurance.