What is Professional Indemnity Insurance? (PII Cover)
Professional indemnity insurance cover (PII Cover) the cost of compensating clients for loss or damage resulting from negligent services or advice provided by a business or an individual.
Do I need it?
If you offer your knowledge, skills or advice as part of your profession – either as a self-employed individual or for a company – you should consider taking out professional indemnity insurance.
Some professions are required to have professional indemnity insurance by their professional bodies or regulators – these include:
1. Solicitors
2. Accountants
3. Architects
4. Chartered surveyors
5. Financial advisers
6. Some healthcare professionals
7. advertising agencies
8. consultancies
9. design agencies
10. public relations agencies