What is Professional Indemnity Insurance?
Have any questions about how this can apply to you?
Professional Indemnity provides protection for anyone who gives advice or custom designed a solution for a client.
A Public Liability policy would respond to any physical damage that is caused but what about the Financial Loss that has occurred?
A Professional Indemnity policy will cover a company or employee for any errors in advice and design that they wrongly give which results in a financial loss for their client.
Professional Indemnity may
An Insurance broker who fails to explain insurance policies correctly which leads to a client not having the correct insurance after an event
Valuer who incorrectly values a building that has burnt down and leaves the client out of pocket
A Financial Planner who provides incorrect investment advice