Professional Indemnity Insurance
What is Professional Indemnity Insurance?
Professional indemnity insurance provides cover for the legal costs and expenses in defending a claim for loss or damage resulting from negligent services or advice provided by a business or an individual. It is an important insurance cover for businesses that offers advice, provides a professional service to clients or handles another firms data or intellectual property.
Do I need Professional Indemnity Insurance?
Professional Indemnity Insurance is sometimes required by professional or regulatory bodies. Other businesses may take out professional indemnity insurance for protection against a claim. These can include the following professions:
- Advertising agencies
- Design agencies
- Public relations agencies
No matter what the size of your business or organisation, without Professional Indemnity cover you could be left vulnerable should a claim be brought against your business or organisation for:
- Loss of documents or data
- Loss of goods or money
- Professional negligence
- Defamation and libel
- Unintentional breach of copyright and/or confidentiality