Professional Indemnity Insurance
Why do you need professional indemnity insurance?
Professional indemnity insurance (PI), sometimes known as errors and omissions insurance (E&O), is essential protection for anyone who provides advice or professional services to a client – This includes not only traditional professions such as architects, law firms, accountants, and IFAs, but also new and emerging professions. – for some, it may even be a regulatory requirement.
We know that as professionals, you never intend to make a mistake in the course of your work. But should you find yourself having made an error, or your end client makes an allegation against you, it is important to be financially protected. Your Professional Indemnity policy will support you with the costs of defending a claim or allegation, as well as any compensation associated with a claim.
Professional Indemnity can help protect your business against allegations such as:
- Professional negligence or breach of duty of care
- Negligent misstatement & defamation – unwitting or intended comments
- Infringement of intellectual property rights including copyright