How Indemnity Insurance Works?
Indemnity insurance for real estate professionals in India operates on a "claims-made" basis. This means it covers claims made during the policy period, regardless of when the alleged error or omission occurred. To ensure continuous protection, real estate professionals must maintain coverage, even after they retire or change careers.
Selecting the appropriate coverage limits is crucial. Real estate professionals should assess the scope of their services and potential risks to determine the right coverage. Higher limits may be necessary for those dealing with high-value properties or complex transactions.
In the bustling Indian real estate market, professionals are often faced with intricate legal and financial challenges. Indemnity insurance is not just a prudent choice; it's a necessity to safeguard against these challenges. It not only offers financial protection but also upholds professional integrity and ensures compliance with legal requirements.