About Professional Indemnity Insurance
Providing professional services or giving advice could make you liable from client claims.
Professional Indemnity (PI) insurance also commonly referred to as Errors & Omissions (E&O), protects your company against legal costs and damages arising from an alleged or actual breach of professional duty, negligence or misstatements which results in a financial loss of your client.
What is Professional Indemnity
Providing professional services or giving advice could make you liable from client claims. Professional indemnity insurance also commonly referred to as Errors & Omissions provides cover for legal costs and expenses involved as well as damages awarded in defending a claim if you are found to be liable for causing financial loss to your client.
What Professional Indemnity Covers
• Professional negligence: If a professional makes a mistake or fails to provide services in a reasonable manner, and as a result, a client suffers financial loss or injury, the professional indemnity insurance will cover the costs of defending against the claim and any damages that are awarded.
• Breach of duty: If a professional fails to uphold their professional duties and responsibilities, and as a result, a client suffers financial loss the professional indemnity insurance will cover the costs of defending against the claim and any damages that are awarded.
• Intellectual Property infringement: If a professional is accused of infringing on someone else's intellectual property rights, such as copyright or trademark, the professional indemnity insurance will cover the costs of defending against the allegations
Providing professional services or giving advice could make you liable from client claims. Professional indemnity insurance also commonly referred to as Errors & Omissions provides cover for legal costs and expenses involved as well as damages awarded in defending a claim if you are found to be liable for causing financial loss to your client.
What Professional Indemnity Covers
• Professional negligence: If a professional makes a mistake or fails to provide services in a reasonable manner, and as a result, a client suffers financial loss or injury, the professional indemnity insurance will cover the costs of defending against the claim and any damages that are awarded.
• Breach of duty: If a professional fails to uphold their professional duties and responsibilities, and as a result, a client suffers financial loss the professional indemnity insurance will cover the costs of defending against the claim and any damages that are awarded.
• Intellectual Property infringement: If a professional is accused of infringing on someone else's intellectual property rights, such as copyright or trademark, the professional indemnity insurance will cover the costs of defending against the allegations
Who needs Professional Indemnity Insurance
Professional indemnity insurance is typically required for professionals who provide advice, design services, or who have a duty of care to their clients. There are professional organizations or regulatory bodies that require their members to have a Professional indemnity insurance in place to conduct their business as a compulsory condition of membership or licensure. Examples of such professions are lawyers, accountants, architects, engineers, surveyors, doctors, and insurance agents/brokers.
Other professionals are required to have Professional indemnity insurance as part of a contractual obligation to enter into certain types of professional agreement or contacts whilst many choose this cover because of the financial protection and security it provides.
We are specialists in a wide range of professions and sectors including:
• Lawyers
• Accountants
• Corporate Service Providers
• Fund Managers
• Architects & Engineers
• Management Consultants
• Technology & IT Consultants
• Media, Communication, Digital
• Healthcare Providers
Professional indemnity insurance is typically required for professionals who provide advice, design services, or who have a duty of care to their clients. There are professional organizations or regulatory bodies that require their members to have a Professional indemnity insurance in place to conduct their business as a compulsory condition of membership or licensure. Examples of such professions are lawyers, accountants, architects, engineers, surveyors, doctors, and insurance agents/brokers.
Other professionals are required to have Professional indemnity insurance as part of a contractual obligation to enter into certain types of professional agreement or contacts whilst many choose this cover because of the financial protection and security it provides.
We are specialists in a wide range of professions and sectors including:
• Lawyers
• Accountants
• Corporate Service Providers
• Fund Managers
• Architects & Engineers
• Management Consultants
• Technology & IT Consultants
• Media, Communication, Digital
• Healthcare Providers
