Professional Indemnity insurance, also known as Professional Liability insurance or Errors and Omissions cover, protects businesses that provide advice or services for a fee. It provides you and your business with protection against claims for financial loss, bodily/personal injury or property damage arising from an act, error or omission in the performance of professional services.
Your clients rely on you to deliver quality services and advice. And despite your best efforts, there’s always a chance that either something can go wrong or an allegation of something having gone wrong be made – potentially leaving you or your employees on the wrong end of legal action and a claim for compensation. The costs to defend your business against an allegation or claim, whether you are liable or not, can be astronomical. Let alone the costs for compensation if you’re found liable.