payment of compensation under professional indemnity insurance would be influenced by?
Answer Details
The payment of compensation under professional indemnity insurance would be influenced by negligence. Negligence refers to a failure to take reasonable care in one's actions or conduct, which results in harm or damage to another person. In the context of professional indemnity insurance, negligence would typically refer to an error, omission, or mistake made by a professional that results in harm or damage to a client or third party. If a claim is made against a professional for negligence and they have professional indemnity insurance, the insurance company will investigate the claim and determine whether the professional was indeed negligent. If they find that the professional was negligent and the claim is covered by the policy, the insurance company will pay compensation to the claimant. Therefore, negligence is a key factor that can influence the payment of compensation under professional indemnity insurance.