Professional indemnity insurance provides financial protection in instances where you or your business could be alleged to have given negligent advice to a third party (usually a customer).
For some job roles such as architects, surveyors, lawyers, financial advisers and accountants, the professional regulator usually requires minimum levels of professional indemnity insurance. Many professional indemnity claims involve complex legal disputes and can be very costly. Cover includes compensation payable to the third party and legal costs, up to a specified limit.
