What is Professional Indemnity Insurance?
Professional Indemnity Insurance (PII) is designed to protect your business against claims made by clients for financial losses they incur as a result of professional negligence, errors, or omissions in the advice or services provided by you or your employees.
Professional Indemnity Insurance provides cover for your legal costs and expenses incurred in defending a claim, and any compensation or costs that may be awarded. A typical policy will include the following:
- Professional negligence, including a mistake in work delivered to a client or poor advice given.
- Unintentional breach of confidentiality, such as sharing sensitive client information without permission.
- Unintentional breach of copyright, including the use of an image on your website without permission.
- Defamation and libel, such as making false comments about a competitor or client that damages their reputation.
- Loss of documents or data.
- Loss of money or goods, for which you are responsible.
