professional indemnity insurance

Professional Indemnity Insurance (PII) is a type of insurance that protects professionals—like consultants, doctors, and accountants—against claims of negligence or mistakes in their work. If a client believes they've suffered a loss due to a professional's advice or service, they can file a claim. PII helps cover legal costs and any potential compensation payments. Essentially, it safeguards professionals from financial loss due to errors, allowing them to operate with confidence while ensuring clients are protected in case something goes wrong.