Rigby Financial
What is professional indemnity?
The purpose of professional indemnity is to protect professional people or others who supply a skill or service, covering their legal liability to compensate third parties who could then bring a claim against them for professional negligence or alleged breach of your professional duty.
Professional indemnity can be put in a place to cover the cost of your defence, to fund a claim or help towards a settlement cost. Court cases can be often very costly, stressful and have a huge financial impact on your business.
Why you need to be covered
The insurance industry has seen a growing need for PI insurance for a variety of reasons and the need is no longer just for the traditional professions. Clients of professionals can be seen as more demanding, knowing their rights and in a service driven world having high expectations of their advisors.
