What is Professional Indemnity Insurance?

Professional Indemnity Insurance

A  Professional  indemnity insurance provides coverage for professionals and businesses to protect against claims of negligence from clients or customers.

Professional liability insurance typically covers negligence, copyright infringement, personal injury, and more.

Typical professional liability policies will cover the insured against loss from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed by the insured’s professional business. Claims covered by a professional liability policy can include damages caused by things the professional did and/or things that should have been done.

What is covered?

Professional Indemnity insurance (PI) is there for you when you make a mistake for which you are sued or investigated or both. Professional liability insurance helps covers claims of:

  • Negligence
  • Misrepresentation
  • Inaccurate advice

Used mainly by:

  • Medical Professionals
  • Lawyers and Solicitors
  • Insurance Brokers
  • Accountants
  • Educational Professionals
  • Financial Services Professionals (Financial Advisors, Asset Management Agents)
  • Construction Professionals (Architects, Engineers, Surveyors)
  • Management Consultants

What should you know?

Even if the business has done nothing wrong, there is still a chance a client will sue your business. If they believe you made a mistake. A business without coverage can have a large financial loss that is hard to come back from. Professional Indemnity  will also cover the legal fees that are related to the claims which are taken to court.

It’s important to know that professional liability insurance does not cover everything. For example, it  will not cover  cased related to following claims:

  • Bodily injury or property damage: A business will need  a Public liability insurance policy to help cover your costs if someone is injured on your business sites or you damage another’s property.
  • Work-related injuriesIf an employees get inured during their job. The business will need an employee compensation insurance policy to help them recover and return to work.
  • Data breachBusiness will need cyber insurance if your business loses confidential or sensitive information about your clients and customers


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