Professional indemnity is a type of insurance that covers legal liability for the consequence of alleged errors, negligence, omission, erroneous omission, or mistake occurring or alleged to have occurred on the part of the Assured or those acting on behalf of the Assured in the services rendered or which should have been rendered to a client.

Professionals such as lawyers, accountants, architects, consultants, engineers, IT professionals, and other service providers who offer advice or services to clients should consider professional indemnity insurance.

It covers legal costs and expenses incurred in defending against claims, as well as any compensation that may be awarded to clients due to negligence, errors, omissions, or other wrongful acts in the course of professional services.

It protects professionals from financial losses and helps maintain their reputation by covering legal costs and compensation claims that could arise from mistakes or allegations of negligence in their work.

No, professional indemnity insurance does not cover intentional acts, fraud or illegal activities. It only covers negligence, errors, and omissions that are unintentional.