What is Professional Indemnity Insurance?

Professional Indemnity (PI) Insurance is mostly obtained by professionals who are supposed to give advices to the client. Professional like Physicians and Lawyers are often legally required to have this type of insurance depending on the rules of the state or country. The various other professionals who choose this type of insurance include beauticians, architectures, accountants, solicitors, insurance brokers, financial advisers, many consultants, advertising agencies and fashion designers, etc.

This insurance helps in protecting the professional person as well as his qualified assistants; his/her employees and sometime even it may also provide legal expenses too depending on terms and conditions of the proposal form. As there is different variety of professions, so the needs and risk involved in them also differ a lot. Thus it is better to take the advice from an experienced insurance broker to get ensured that each and every risk is properly covered.