PROFESSIONAL INDEMNITY
Professional Indemnity Insurance (PI)
Professional Indemnity Insurance is compulsory for most professional businesses and services, these include professions such as solicitors, architects, engineers, independent financial advisers, accountants, and new insurance covers for miscellaneous classes where professional indemnity insurance protects that business's interests against claims for error, omissions, professional neglect for both the principles and their employees.
Without professional indemnity insurance companies expose themselves and run the risk of being liable for all sorts of claims.
A professional indemnity insurance policy may cover you for areas such as libel and slander, professional neglect, malicious falsehood, passing off copyrights, breach of confidentiality, and negligent statement or actions.
