Professional Indemnity Insurance
Professional Indemnity Insurance protects you from claims if your client holds you responsible for errors, or the failure of your work to perform as promised in your contract. Anyone who gives to another person advice and/or services of a skilful character according to an established discipline might be regarded as a 'Professional'. That means persons other than those in 'traditional' Professions, such as doctors and lawyers, are now considered to be Professionals i.e. Computer consultants, advertising agents, acoustics consultants, trade associations and fund managers.
Professional Indemnity Insurance also includes legal defence costs - no matter how baseless the allegations. Professional Indemnity Insurance will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy.
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