Professional Indemnity Insurance is a kind of business insurance. Professional Indemnity Insurance is also known as a Professional Liability Insurance and also as the Errors and Omissions.
The professional indemnity insurance policy is one of the best risk management tools obtainable for businesses, as there is no better way than having an insurance policy pay off your debts or the money you owe to your client. Negligence and mistakes not only cost you your customers but also cost you a fortune. Professional indemnity insurance or a professional legal responsibility insurance policy helps administer your vocation and losses better without having to be sued or legally accused of major financial losses, which might lead to the fall of your whole vocation or your client’s whole vocation.
You are likely to need professional indemnity insurance in many cases like: