The need for professional indemnity (PI) cover has grown over the past several decades as more people enter professional service-based occupations. While PI insurance still covers ‘traditional’ professionals, such as doctors, solicitors, accountants and architects, a new market of professionals now need to consider PI cover. Whether a traditional or new professional, you can protect yourself, your business and your reputation by investing in professional indemnity cover.
PI insurance safeguards against catastrophic losses in the event of a legal action due to a negligent act, error or omission by the professional. In addition to claims of error, omission or negligence, PI insurance may also protect against slander, libel and breach of contract.
PI cover is appropriate cover for anyone who gives advice, makes educated recommendations, designs solutions, or represents the needs of others.
The main reasons professionals seek out PI insurance include the following:
At ABL Group, we appreciate every business is different. That is why we tailor professional indemnity policies to each client’s specific needs; endeavouring to obtain the best terms at competitive prices, for the widest coverage.