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What is
Professional Indemnity Insurance?
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| Professional Indemnity insurance provides financial
protection for professionals to meet the costs of defending
legal actions and any damages that may become payable
to third parties who have sustained financial losses due
to the professional negligence of the Insured or their
employees. |
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| Who needs it? |
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| Quite simply, any person, company or partnership providing
advice, designs, specifications or other professional
services – where fees are not necessarily involved
– can be described as a “professional”. |
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| Professionals looking to buy PI |
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| Companies, individuals or partnerships businesses have
increasingly found themselves in lawsuits as a result
of errors and omissions made by individuals. Many professionals
requiring Professional Indemnity Insurance are caught
by surprise – they are unaware of their perceived
“professional” status. |
| Coverage is provided for advertising agent, computer
services and software developers, marketing consultants,
publishers, employment agents, quantity surveyors, educators,
management consultants, financial institutions and other
miscellaneous professions. |
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Guide
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