Professional Indemnity Insurance

Professional indemnity insurance is a liability insurance that helps protect professional advice and service-providing individuals and companies being liable for the full cost of defending against a negligence claim by a client or customer, and subsequent damages awarded in such a civil lawsuit. Professional indemnity insurance is known as PII and in the US is more commonly known as errors & omissions (E&O). Professional indemnity insurance is used by insurance agents, brokers, consultants, and lawyers. Other professions that often use professional liability insurance services include the fields of accounting, engineering and financial services, medical (where is also called malpractice insurance), construction and maintenance and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.