Professional Indemnity

A Professional Indemnity policy aims to shield the professional's assets in the event of a claim, therefore ensuring that he/she is able to continue running their business. It is well described by one Insurer as "agrees to indemnify the Insured against legal liability for any Claim for compensation first made against the Insured during the Period of Cover and which is notified to the Insurer during the Period of Cover in respect of any liability incurred in the conduct of the Professional Business Practice." This cover is especially popular with consultants, lawyers, financial planners, engineers, accountants and anyone engaging in professional practice.