- By Operations
- last updated 02/11/2016
Professional Indemnity Insurance (a.k.a. Professional Liability
Insurance) is a form of liability insurance that 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 lawsuit.
) The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in
the service or product sold by the policyholder.
) These are causes for legal action that would not be covered by a more
general liability insurance policy which addresses more direct forms of harm