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Professional indemnity insurance is a form of liability insurance which helps protect professionals from legal liability that may arise due to acts of negligence, error or omission in the rendering of or failure to render professional services for others in the insured’s capacity as a professional
This is because it provides protection for:
Any person who gives advice, designs or provides similar Services and presents him/herself as a professional to the client.
Accountants, financial consultants, surveyors, engineers and healthcare professionals are all likely to need professional indemnity insurance due to requirements set by their respective industry bodies. Likewise, contractors who provide services to a certain industry – such as the energy sector – are likely to need mandatory cover.