Benefits of professional indemnity insurance are as follows:

1. It is beneficial not only to the doctors or hospital but also to the patients and their dependents because the insurance company takes care of the compensation.
2. Retroactive Benefit: This means that the insured will be covered for any professional act or omission occurring during the period of insurance.
3. It would take care of the amount of damages against third party.
4. The scheme will also compensate on the principle of “no fault liability to give some relief in the case of death or permanent disablement of the patient.
5. The company will also pay the defence costs, which have a direct relevance to the claim.