In your line of work, your word is your bond. But what happens when your advice, however well-meaning, leads to a loss?
He always do do former he highly.
Whether you’re a financial consultant, lawyer, architect, accountant, or medical professional, you operate in a world where the stakes are high, and expectations are higher. People don’t just hire you for services — they trust you with decisions that affect their finances, freedom, safety, or reputation.
and when things go wrong? You’re expected to pay — sometimes literally.
That’s where Professional Indemnity Insurance comes in.
What Is Professional Indemnity Insurance?
Professional Indemnity Insurance (PII) is a liability cover designed to protect professionals who provide advice or services from claims made against them by clients. These claims might allege:
- Negligence
- Misrepresentation
- Omissions or errors in advice
- Breach of confidentiality
- Unintentional infringement of intellectual property
In other words, if a client accuses you of making a mistake that cost them money — even if it’s untrue — this policy steps in to defend and protect you.
Who Needs Professional Indemnity Insurance?
If your work involves consulting, advising, designing, or managing on behalf of a client, you should strongly consider it. This includes:
- Financial Advisors & Fund Managers
- Insurance Brokers
- Architects & Engineers
- Consultants
- IT & Cybersecurity Firms
- Legal & Accounting Professionals
- Medical Practitioners (often covered under specialized malpractice indemnity)