Professional Indemnity
Insurance
What is Professional Indemnity Insurance?
Professional Indemnity Insurance protects your business against claims arising from professional mistakes, negligence, or errors in advice or services provided to clients. Whether you’re a consultant, contractor, financial advisor, solicitor, or work in a regulated profession, this insurance ensures you won’t face financial hardship if a claim is made against you.
For small businesses, freelancers, sole traders, and large firms, Professional Indemnity Insurance is essential to operate with confidence and comply with client and regulatory requirements.
Who Needs This?
Any business that provides professional advice, consultancy, or services should have Professional Indemnity Insurance in place. This includes:
- Consultants & Advisors – Covers claims for errors or omissions in professional advice.
- Accountants & Financial Services – Protection against financial loss caused by incorrect calculations or guidance.
- Legal & Compliance Professionals – Essential for solicitors, lawyers, and compliance officers facing potential claims of negligence.
- Architects & Engineers – Covers design flaws, planning mistakes, or structural miscalculations.
- IT & Technology Consultants – Protects against claims arising from software failures, system implementation errors, or data breaches.
Why is it Important?
Even a small professional error can lead to costly claims. Without insurance, legal fees and compensation costs could significantly impact your business.
Common risks that Professional Indemnity Insurance protects against include:
- Errors & Omissions – Covers mistakes in reports, calculations, or professional advice.
- Negligence – Protection if a client claims financial loss due to your work.
- Breach of Confidentiality – Covers accidental sharing of sensitive client information.
- Defamation & Libel – Protection against claims of reputational damage caused by your business.
- Legal Costs – Covers defence and settlement fees if a claim is made against you.
Coverage at a Glance
Know exactly what you're protected against.
What's Covered
Professional Indemnity Insurance policies typically include:
- Compensation Costs – Covers claims for financial loss due to professional mistakes.
- Legal Defence Fees – Protection against legal costs associated with claims.
- Rectification Costs – Covers expenses to fix mistakes before they lead to a larger claim.
- Data Loss & Confidentiality Breaches – Covers liability arising from lost or leaked client information.
What's Not Covered
- Claims arising from intentional wrongdoing or fraud.
- Employee injuries – Covered under Employers’ Liability Insurance.
- Damage to physical property – Covered under Public Liability Insurance.
Additional Cover You May Need
Depending on your business type, consider adding these protections.
Get the right cover for your business
At Insurably, we have access to 100's of insurer markets. No matter how unique your requirements, we find the right cover to suit you.
What does Professional Indemnity cover you for?
Professional Indemnity Insurance protects your business against claims of negligence, mistakes, or professional errors. Insurably provides tailored cover that gives you confidence to focus on your work—knowing you're protected if a claim arises.
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