What is Professional Indemnity Insurance?

So what is Professional Indemnity Insurance? Professional Indemnity Insurance is a type of liability insurance that provides cover for the financial consequences of neglect, error or omission by the firm taking out the policy.

How does professional indemnity insurance work?  The policies are designed to provide for the legal and other costs and expenses incurred in the defence of any claim. The workings of the policies are that a person purchases Professional Indemnity insurance. The claim must be brought against the Consultant Firm and the person making the claim must first prove liability against the Consultant Firm (i.e failure to exercise reasonable care and skill in the delivery of its service). The policy works in providing expert advice and legal expense cover in defending the claim and if a judgement is made against the defendants the policy will then pay the award.

What is the best professional indemnity insurance policy for me? Not all policies are the same and wordings between insurers differ –This is where you need a firm like ours to help you through the insurance terminology maze.

How do I buy professional indemnity insurance? Call us now or follow the link to check if we can give you a quick quote. If your occupation is not listed don’t worry simply follow this link and fill out a proposal form. For more information call our office on 091-563518 or email info@piinsurance.ie