Professional Indemnity
Professional Indemnity (PI) insurance is designed to help respond to claims against your business for losses due to actual or alleged negligent acts or omissions in the provision of your professional service or advice. Professional Indemnity insurance may also help with legal costs associated with responding to or managing claims covered by the policy. Not all businesses are the same; therefore, there is no âone size fits allâ policy when it comes to your professional indemnity policy.
It isnât always required by law but is often required by regulatory or professional bodies. Plus, many companies find it instils a degree of confidence and credibility in their organisation and the work they do.
Many businesses choose to take out professional indemnity insurance to protect themselves against claims Ââ these include but not limited to:
- Accountants
- Architects
- Chartered surveyors
- Financial advisers
- Advertising agencies
- Consultancies
- Design agencies
- Public relations agencies
- It consultants
- Business consultants
- Surveyors
- Engineers
- Design and construction
- Interior designers
- Coaching, training and education
- Risk management