Professional indemnity
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Professional indemnity
What is it?
Professional indemnity insurance (PII) shields professionals financially from client or third-party claims of carelessness, mistakes, or omissions. It pays for court expenses and compensation claims brought about by expert counsel or services
Inclusions and Exclusions in Professional Indemnity Insurance
- mistakes or inaccuracies in expert counsel or services.
- breach of the terms of the contract.
- violation of fiduciary obligations or duties.
- assertions that are false or deceptive.
- breaking rules or professional norms.
- intentional deception or dishonesty.
- claims resulting from deliberate misconduct or illegal activity.
- Liability for property damage or personal injury (not covered by other insurance).
- Claims arising from contractual disagreements that are not specifically connected to expert services.
- claims resulting from actions taken beyond the purview of the insured enterprise or profession.
