Professional Indemnity Insurance

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What is PI insurance?

Professional indemnity insurance – or PI insurance – covers compensation claims if a business is sued by a client for making a mistake. If your business is accused of providing inadequate services, advice or designs to a client, PI insurance provides cover for the legal costs of defending the claim, plus any compensation which may be awarded to the claimant.


Do I need PI insurance?

Businesses that need PI insurance are those that offer a service, give advice, or process client information or intellectual property.

Some professional bodies demand that their members hold professional indemnity insurance and in many cases clients will only do business with you if you are covered by PI insurance.


Is PI insurance a legal requirement?

Professional indemnity insurance is not a legal requirement, but PI insurance is mandatory for members of some professional bodies, so it is pretty much compulsory for some professions such as financial advisers and architects.


Which businesses need to buy PI insurance?

PI insurance is good to have for peace of mind, even if it is not compulsory for your business. Even if you think that your company has foolproof processes in place, that won’t stop a client accusing you of making an error. No one can predict what might happen in the future and if the worst happens you will want to protect your business.

The cost of defending your business can run into thousands. You will also have to face the cost of potential damage to the reputation of your business, even if you are wrongly accused. You don’t want the fear of today’s compensation culture or litigation society to stop you doing your job.

Some of the jobs that benefit from PI insurance are:

  • IT consultants
  • Management consultants
  • Recruitment consultants
  • PR consultants
  • Business consultants
  • Accountants
  • Architects
  • Web designers
  • Graphic designers
  • Contractors (including IT contractors)
  • Inventory clerks
  • Estate agents
  • Media and advertising professionals

For many professions coverage, such as estate agents professional indemnity insurance, acts as a prerequisite to entry into associations. Specific associations in certain sectors will have a minimum limit to PI cover, it’s important to know what this limit is so we can advice a policy that fits this criteria and doesn’t prevent you from applying or continuing to be a member.


If you’re interested in PI Insurance, please fill in the form below with your contact details and we’ll get back to you as soon as we can with a professional indemnity insurance quote.

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