Professional indemnity insurance protects professionals against claims of negligence made against them by a client. This type of insurance is available to professionals across a range of industries and covers the costs and expenses of defending a legal claim, as well as any damages payable.
Professionals are legally held to a higher degree of skill and care than ordinary people. If others suffer a loss that can be attributed to a specialist’s failure to uphold professional standards, they risk being sued for a breach of professional duty. A client’s loss may be material, financial or physical.