Professional Indemnity Insurance is important for any company, organisation, consultant or contractor that gives advice or provides services in a professional capacity. In today's competitive, fast moving commercial environment the potential for errors in the performance of services - alleged or actual - is all too real. Dissatisfied customers increasingly sue when things go wrong and the financial ramifications of this can be severe. Providing invaluable financial protection and peace of mind aside, indemnity insurance (PI Insurance) can also help secure new contracts as clients are now more likely to insist that companies, organisations, contractors and consultants carry professional indemnity insurance as a prerequisite for conducting business with them. It is also beneficial to freelancers.
