Professional indemnity claims occur in instances of professional negligence and/or breach of contract. If a client of yours suffers financial loss as a result of alleged neglect, error or omission on your part, they will not hesitate to pursue a claim. PI claims cause significant damage to your professional reputation and often result in hefty fines. Although all professions need professional indemnity cover, architects, accountants and business consultants are at a higher risk for PI claims.
Accidental errors or omissions can occur in any profession. Here, our professional indemnity experts share insights and actionable advice to help you understand the risk of professional indemnity and how you can protect your career against indemnity, liability and negligence claims.
Professional Indemnity Insurance – Key Definitions
Professional indemnity insurance is very important for protecting your business. In short, it protects you financially when you are legally liable to your clients/customers due to an error or omission in the service or advice you professionally offer. It also covers any legal costs incurred in defending you in the event of a claim being made against you. Every business has different cover requirements and accurately assessing these can help you […]
