Professional indemnity insurance protects you against the financial consequences of making mistakes. This insurance is essential if you give advice or provide services in any professional capacity. It will protect you against a wide range of liabilities including:
- Negligence – where a client alleges you failed in your duty of care by making an error or omission.
- Dishonesty – claims arising from theft, misuse or misappropriation of client funds.
- Infringement of copyright or trademark.
- Loss of or damage to documents belonging to your clients.
By taking out professional indemnity insurance, you can transfer most of these risks to your insurer and so protect your business against the potentially high cost of any successful claim.