Professional Indemnity

Professional Indemnity

What is Professional Indemnity Insurance?

Anybody providing advice or consultancy services for a fee has an exposure that needs to be considered

Professional Indemnity (PI) Insurance isn’t just limited to typical ‘professions’ such as accountants, engineers, lawyers, doctors and architects. Essentially, anybody providing advice or consultancy services for a fee has an exposure that needs to be considered.

What It Covers & What to Consider

What’s included in your Professional Indemnity Insurance

Imagine if you accidentally breached your client’s privacy or confidentiality, missed out important information, made an error or provided incorrect advice. Any of these simple oversights could lead to a claim against your business, making it vital to protect yourself, your business and your reputation.

Another important consideration is the potential legal costs associated with defending any claim or allegation. The court and legal fees are often underestimated and it can be especially difficult to fund this element of the claim, whilst also trying to keep your business running as normal.

Amongst other risks, PI Insurance typically covers:

Breach of duty – includes privacy related issues


Breach of consumer, competition and fair trading

Loss or damage to important documents

Infringement of intellectual property

Public relations costs – to assist with any reputational damage following a claim against your business

Claim investigation costs - costs of investigating, defending and settling a claim.

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