Professional Indemnity Insurance Wiki

Professional indemnity insurance often referred to as professional liability insurance or pi insurance covers legal costs and expenses incurred in your defence as well as any damages or costs that may be awarded if you are alleged to have provided inadequate advice services or designs that cause your client to lose money.

Professional indemnity insurance wiki. Professional indemnity insurance is designed for professionals who provide advice or a service to their clients. Bluefin professions offers insurance solutions and risk management advice to businesses of all sizes. Find out more about pi insurance or call us on 0800 640 6600. Professional indemnity insurance clause in conditions of engagement designing buildings wiki share your construction industry knowledge.

The latest release of the enhanced mortgage broker professional indemnity policy. In partnership with insurance house australia iha connective offers you a group policy for professional indemnity insurance that s specifically tailored to suit our members. In association with bluefin professions the professional risk team at jelf insurance brokers we are delighted to offer training providers a range of insurance solutions. The connective professional indemnity insurance package details are below along with an application form.

Confused by professional indemnity insurance. The duty to indemnify is usually but not always coextensive with the contractual duty to hold harmless or save harmless. Great cover great premium. Professional liability insurance pli also called professional indemnity insurance pii but more commonly known as errors omissions e o in the us is a form of liability insurance which helps protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client and damages awarded in such a civil.

Professional indemnity insurance is an important type of business insurance especially for businesses that give advice or provide a professional service to clients it can cover compensation claims if a business is sued by a client for making a mistake that leads to financial loss. The case of ampleforth abbey trust v turner townsend project management ltd 2012 ewhc 2137 tcc relates to conflict between a liability clause and insurance clause in conditions of engagement. Indemnity is a contractual obligation of one party indemnifier to compensate the loss incurred to the other party indemnity holder due to the acts of the indemnitor or any other party. If someone alleges that you ve made a mistake overlooked a critical piece of information misstated a fact or they have misinterpreted you in the course of your work resulting in a financial loss for your client they may take legal action against you to recover those losses.

Malpractice insurance protects medical practitioners from civil claims arising from negligence. Professional indemnity insurance definition. Professional indemnity insurance experts.