What is Professional Indemnity Insurance?

Professional Indemnity Insurance

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 /claims made during the policy period because 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 the professional’s actions or things that the professional should have 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
  • Defamation
  • Intellectual Property

Used mainly by:

  • Medical Professionals
  • Lawyers and Solicitors
  • Insurance Brokers
  • Accountants
  • Educational Professionals
  • Financial Services Professionals (Financial Advisors)
  • Construction Professionals (Architects, Engineers, Surveyors)
  • Personal Trainers

What should you know?

Even if the business has done nothing wrong, there is still a chance a client will sue your company. If they believe you made a mistake. A business without coverage can have a significant financial loss that is hard to come back from. Professional Indemnity will also cover the legal fees related to the claims 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 the 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 employee gets injured 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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  • Benefits of PI insurance -Feature

Top 5 Benefits of Professional Indemnity (PI) Insurance

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There are many benefits of professional indemnity (PI) insurance to a business or a professional. It is one of the most important insurance that every new business should purchase beforehand. There are countless risks that can lead to lawsuits and destroy a business. PI insurance provides coverage for professionals and companies to protect against claims of negligence from clients or customers. The insurance will cover claims of negligence, misrepresentation, inaccurate advice, and more. This short article will explain the benefits of PI insurance and why it is crucial for every business or freelancing professional. Top 5 Benefits of PI Insurance [...]