Public Indemnity Insurance

Description

What does a Professional Indemnity (PI) insurance policy cover?

Professional indemnity insurance (PI) is there for you when you make a mistake for which you are sued or investigated (or both).

Whether you’re a project manager or consultant, PI supports you in two main areas:

Covers costs associated with regulatory hearings, including defence costs

Pay any damages or settlements

People who sell themselves as having a certain skill set or expertise put their careers on the line every time they meet a client. When you take action on their behalf, you risk being sued.

Defence is vital when allegations are unfounded – your future prosperity depends on it. But if allegations are justified, then insurance is especially important.

You will need to assemble an experienced legal team at considerable expense – and even then, you may be liable for damages or need to settle out of court.