What is professional indemnity insurance?

Professional indemnity insurance (PI) is essential insurance protection for anyone who provides a service or advice. Regardless of how many years experience your firm may have, there is always the possibility you (or one of your team) could make a mistake.

Professional indemnity insurance protects you if a client or third party claims against you because they think you've done something wrong. In many cases the policyholder may not have done anything wrong but needs the policy to defend themselves from expensive litigation instigated by a disgruntled client who might have caused their own loss.

The policy pays for an expert solicitor to represent the policyholder if something goes wrong and also pay any damages you're liable for.

Because of the high cost of negligence and litigation, professional indemnity claims can be surprisingly large running from hundreds into many millions of pounds.

 Please download our informative FREE guide 'What you need to know about buying professional indemnity insurance'.

We hope this answers your question. For more information or for a quotation please call us on 0345 251 4000 or email info@professionalindemnity.co.uk