What does Professional Indemnity
Insurance typically cover?
Businesses who offer advice or services to clients need professional indemnity insurance. This is because there is a real possibility of a client filing a claim against your business due to incorrect advice or overlooking significant information. Professional indemnity insurance cover offers support for businesses from going into loss due to litigation. Hence, professional indemnity aims to protect our company as well as its reputation.
Here are the aspects that are usually covered under Professional Indemnity Insurance:
- Costs due to damages and claims
- Breach of privacy or overlooking professional duty
- Costs due to court attendance, and legal defense
- Loss of documents
- Public relations costs that are acquired to maintain your company’s reputation
- Cases of defamation due to professional service or advice