What is professional indemnity insurance?
Professional Indemnity Insurance provides protection to businesses and consultants who provide advice to other businesses, for example architects, journalists, IT consultants, financial advisors and engineers. Professional Indemnity Insurance covers you if you are negligent or make a mistake which causes a client’s business to suffer financial loss.
Some of the areas which can lead to legal proceedings are:
- Intellectual property: unintentionally infringing on copyrights, trademarks, broadcasting rights, any act of passing off
- Negligence: or breach of duty of care
- Dishonesty: liability arising from the theft of your clients’ money
- Loss of data: damaged, stolen or lost data/documents belonging to your clients
Professional Indemnity Insurance Comparison
With the ‘blame and claim’ culture that we sometimes live in today, businesses are at risk of being sued for services that they are employed to do. If you are a business who gives advice to clients, you need financial support and flexible policies which are tailor-made for your specific profession.
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