Professional indemnity insurance protects your business against customers or business partners claiming that your advice, design, specification or instruction was negligent and has caused them financial loss.
Often this insurance is required to demonstrate your ability to pay for your business mistakes as part of your contractual obligations from a client. Also such an insurance may be a requirement of membership of a trade body or by an industry regulator.
Professional Indemnity protects your company for the following key areas:
