Professional Indemnity/ Errors and Omissions Insurance cover provides protection for the individual professionals/ company and its subsidiaries for claims brought in respect of negligent acts, errors or omissions in the performance of professional services. The policy is meant to pay for defence expenses and damages and includes amounts that the insured is legally required to pay because of judgments, arbitration awards or the like rendered against the insured, or for settlements negotiated in accordance with the coverage afforded by the policy.
You are likely to need professional indemnity insurance if:
Professions that might need professional indemnity insurance include (but are not limited to):
Management and business consultants such as marketing consultants, training consultants and education consultants