What is Professional Indemnity Insurance?

by Scott on 06/01/2012 in Professional Indemnity Insurance

Professional indemnity insurance is liability insurance that covers your business in the event that a third party claims to have suffered a loss as a result of professional negligence.

Many professions are required to have PI insurance cover as a regulatory requirement or as part of their professional authorisation. This includes solicitors, accountants, architects, insurance brokers and financial advisers. Many consultants, technology companies, media companies, designers and other emerging professions also choose to or are contractually required to have this type of insurance.

Making sure you are properly covered is an important aspect when considering PI insurance. As an example PI cover is usually on a claims-made basis. This means that the policy will only cover claims that are made while the policy is live. So ensuring you have the correct retroactive cover in place to give you peace of mind.

For help and advice about Professional Indemnity insurance please contact Scott Sayce on 01189165483 or complete one of our enquiry forms.

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