What is it?
Professional errors and misconducts can cause damages that can be financial, bodily, or to a property. These damages require a liable payment and hence having a professional indemnity insurance will protect you from these costs. However, it is important to note that this cover is only valid when third party bodily injuries or property damages is caused by your businesses’ professional duties.

Why do you need it?
Any professional business owes a duty of care to their clients and customers while they are providing these professional services. They damages could be due to any professional duty the business requires. The liability could be brought from civil wrong-doing or by contract when providing financial services, engineering services, healthcare, and more.