Professional Indemnity Insurance is a policy that protects professionals against financial losses resulting from claims of negligence, errors, or omissions in their services.
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Professional Indemnity Insurance is a policy that protects professionals against financial losses resulting from claims of negligence, errors, or omissions in their services.
Architects, engineers and other construction professionals who provide advice, designs, or consultancy services should consider PII to safeguard against potential claims.
PII covers risks associated with professional negligence, errors, mistakes, breaches of duty, or wrongful advice that may lead to financial losses for clients.
While it may not be legally mandatory in all locations, many clients, contracts, and industry bodies require architects and engineers to have PII to ensure a level of professional responsibility.
Premiums are influenced by factors such as the professional’s experience, the size of the projects undertaken, coverage limits, and the nature of the services provided.
Yes, PII covers legal fees including court fees all of which can be substantial in case of a lawsuit.
What PII, you risk shouldering the full financial burden of legal fees and compensation in case of claims related to professional negligence or errors in your services.
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