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 place to cover the cost of your defence, to fund a claim or help towards a settlement cost. Court cases can often be 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 demand for PI insurance for a variety of reasons, and this need now extends beyond the traditional professions. Clients of professional service firms are increasingly informed, aware of their rights, and often have high expectations of the advice they receive in today’s service-driven environment.
