Professional Indemnity
What is professional indemnity insurance?
Anyone can make a mistake – but if your business is found liable for negligence, the costs can be financially devastating. Not only can it lead to an expensive lawsuit, but your business’ hard-earned reputation may be damaged as a result.
That’s why professional indemnity insurance matters – for help protecting your assets and brand if your advice causes a client to take legal action against you.
What can it cover?
As a wide-ranging insurance solution, professional indemnity cover may include anything from accidents to errors and omissions.
Depending on your policy, professional indemnity insurance can cover:
| Type of Cover | Potential Benefits |
| Civil liability | Civil liability to a third party arising out of the conduct of their professional business. |
| Inquiry costs | The cost of defending an inquiry by a regulatory body into the professional conduct of the insured |
| Defence Costs | the costs involved in defending a claim triggered by the policy |
| Fidelity Cover | Direct financial loss of the business caused by the dishonest or fraudulent conduct of an employee which is first discovered during the period of insurance |
| Advancement of costs and expenses | Additional costs and expenses incurred during a claim |