What does Peer Review mean? Read on to discover the definition & meaning of the term Peer Review - to help you better understand the language used in insurance policies.
A process in a professional firm whereby one or more professionals reviews and critiques the work of another professional within the organization on a given project. Underwriters consider peer reviews a key element in preventing claims against professional firms. Accordingly, peer reviews should be conducted on every major engagement, with the work reviewed by at least one professional who did not personally perform it. Peer review is especially important on large-scale service projects in which less experienced members of a firm performed the bulk of the work.
We hope the you have a better understanding of the meaning of Peer Review.