Professional Indemnity insurance
What is professional indemnity insurance?
Professional Indemnity Insurance is designed to cover individuals and businesses engaged in professional services for claims of alleged negligence, omission, error or breach of professional duty.
If you are involved with a medical profession you may also require medical malpractice insurance.
Here’s an overview of the benefits of professional indemnity insurance to help explain further.
What should my insurance cover?
Many policies can be extended to include a range of benefits such as:
Payment of fines & penalties
Payment of ransoms & extortion
Cover for lost or disrupted income
Cover for physical injury/damage
The cost of phone hacks
Cost of notifying your contacts
Incidents at your outsourced service providers
Social media risks
Claims could potentially, but only only, involve:
- Incorrect designs
- Delay
- Incorrect advice
- Breach of copyright
- Loss of documents
- Libel and/or slander
