Who Needs Professional Indemnity Insurance?

silhouettes of professional people Almost anyone who provides a service to customers now requires professional indemnity insurance. Our online quote system instantly compares competitive quotes for over 500 different occupations and this number is constantly growing.

Here are a just few examples of the occupations who will be required to obtain PI Insurance and reasons why it is so important for them.

IT Contractors

The term IT Contractor covers a broad range of activities that will require PI Insurance. Freelance job roles in the IT sector include web developers, software developers, analysts, programmers, project managers and telecommunications consultants. PI insurance is an important policy to have in place for many Freelance Contractors in the IT sector, as it protects their business should something go wrong. An accidental mistake, such as a coding error, or loss of data can be covered with a PI policy.

Business, Management and Training Contractors

Business, Management and Training Contractors can also benefit from taking out complete PI Insurance. Job roles in this sector include business analysts, project managers, marketing consultants, HR consultants and project managers. This sort of cover is useful if things don’t quite go to plan. For example, if your sales recommendations for a company do not work out as predicted, or if a time-saving venture increases costs. PI Insurance can ensure that any legal costs that may occur will be covered.

Financial Contractors

Financial Contractors can be at risk of unintentionally causing their client a loss. In the event of a possible dispute, it is important to have professional indemnity in place, to avoid paying out for costly compensation or legal fees. Financial jobs include administrative accountants, bookkeepers, credit controllers, financial and management accountants and project managers.

Energy Sector Contractors

Energy Sector Contractors should also have PI Insurance in place. Whether they are based in the office on-site or in the North Sea on an oil rig, comprehensive cover is an important. Office based roles include project managers and NDT/Inspection specialists. On site roles can also include project managers and NDT/Inspection specialists, as well as electricians, rope access engineers and well supervisors. Energy contractors need to be aware of the potential hazards this industry brings. Any mistakes can be costly therefore it is vital contractors carry PI Insurance Cover.

Engineering Contractors

Engineering Contractors cover a range of roles, including CAD engineers, draughtsmen and the areas of mechanics, construction, chemicals, transport, aviation and many more. If an engineering specialist should happen to make a mistake throughout their contract with a client, legal fees and compensation have the potential to cause great financial difficulties – purchasing affordable PI Insurance is the best way to have complete peace of mind.

Media and Creative Contractors

Even Media and Creative Contractors can be required to have a good PI Insurance policy in place. Creative roles can include freelance graphic designers, media consultants, copywriters and project managers. In the area of graphic design, a copyright infringement or a breach of contract could occur, leading to a dispute with the client. PI Insurance is the perfect safety net to have in place, should anything ever go wrong.

Most contractors are contractually obliged to take out PI insurance to protect themselves against any legal action that may arise due to potential mistakes. PI insurance is also a strong indicator that a contractor is in business on their own their account. IR35 has been around for 12 years and when HMRC investigate they need to establish whether or not the contractor is a disguised employee or a genuine contractor. PI Insurance is a key factor in making that distinction.


This article is intended for information purposes only. It is not and does not purport to be legal advice or specific insurance advice. Whilst all care has been taken to ensure the accuracy of the article at the time of publication, it is not to be regarded as a substitute for specific advice. If you require specific advice, call us on 0345 251 4000. This article shall not be reproduced in any form without our prior permission. © 2019 all copyright is owned by Professional Indemnity Insurance Brokers Ltd.