Professional Indemnity Insurance Definition

Looking for a professional indemnity insurance definition?

Professional indemnity insurance is designed to protect professionals who have been accused of negligence by a client in their advice and/or services given which resulted in a financial loss for their client.

There is no one professional indemnity insurance definition but here is some additional information.

What does it cover?

Professional indemnity insurance offers you cover if your client alleges that you failed to perform your duty and/or caused them financial loss.

Some of the most ‘at risk’ professions include accountants, engineers, business consultants including I.T. and financial.

If you are alleged to fail to meet the brief, or it is alleged to be inaccurate or simply substandard you may have to defend these claims whether they are true or false.

These legal costs can be expensive and thankfully a good professional indemnity policy will cover the cost of your legal fees.

Get the cover that is right for you

A policy that suits and accountant may not suit an architect. Each profession is different and will have their own specific needs. To get the policy that is right for you get in touch with a member of our team and we can assist you in getting the best cover for the best price.

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