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Professional businessman

As a professional you take great pride in your work, and you provide the best service possible. Your advice, services, and designs are all top-notch.

Even so, the slightest oversight or inadvertent error can cause customer dissatisfaction, or even worse, damage to their business.

Unfortunately if this happens, most clients “reach for their lawyers”. That’s why you’ll want Professional Indemnity insurance cover to save your customer, the project, and maybe even your business.

What is Professional Indemnity Insurance?

In technical terms Professional Indemnity insurance protects you in the case of a claim arising from acts, omissions, or breaches of professional duty in the course of you doing business. If you do something, or neglect to do something, and it results in injury or financial loss to your customer, they may have a claim against you. In plain English, it responds if you get sued.

Professional Indemnity Insurance can protect you and help compensate for legal costs, including investigation and settlement costs. In addition, having this insurance will allow you access to the insurer and their legal advisers for guidance through the process, allowing you to resolve the dispute and get on with your business as quickly as possible.

Who needs it?

Many professions need Professional Indemnity Insurance. For some it’s compulsory.

They include:

  • Engineers
  • IT Professionals
  • Real Estate Agents
  • Accountants
  • Financial advisers
  • Bookkeepers
  • Personal Trainers
  • Health professionals
  • Event Organizers

There are very few professions that won’t benefit from this insurance.

If you are directly providing a service and are not covered under the insurance of an employer, you need PI Insurance.

Some examples

  • As an IT professional, your program does not perform up to the standards you have promised and results a client losing income, or even worse, leaves your client open to loss of data through a breach.
  • As an event planner, you are responsible for booking the venue, but forget to confirm the booking. The event then must be delayed or cancelled, which means that speakers, caterers, and more will be your liability.
  • As an accountant, you advise a client that an expense is tax deductible, but it isn’t. Should the client be fined and bring a lawsuit against you for the penalty interest, this insurance would help to cover your costs and fees.

Your attention to quality and sound processes is your best defence against the inadequate advice, poorly performed services or underperforming designs. However, even your best defence might not always be enough. That’ why Professional Indemnity Insurance is a great investment for any professional.

Talk to one of our PI experts to learn more on check out our video at





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