What is Professional Indemnity Insurance and do I need it?

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People who give professional advice or perform services to customers through the course of their work, are well advised to consider taking out Professional Indemnity insurance (PI).

PI is a form of liability insurance that protects you from legal action taken against you if someone suffers a financial loss after following your professional advice.

There are also specific types of PI insurance for certain professionals. For example, the medical profession will usually have medical indemnity insurance as a requirement of professional registration or licensing.

While PI is a form of liability insurance, it’s not covered within general liability insurance policies so if you provide any form of professional advice, it’s really important to look into this.

Your local Phoenix Insurance Broker can talk to you about PI and help work out a policy that’s right for your requirements.

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