Professional Indemnity Insurance covers legal fees and compensation payments if a client loses out financially or professionally because of your work. Although PI cover is not compulsory by law, it is required by certain regulatory bodies (like us, in accountancy), and is often indispensable for certain professions. But even if you're not legally required to have it, it's sometimes good to get it in order to reassure potential clients and for your own security. It’s a particularly popular insurance for businesses that give advice, provide a professional service, or handle client data and intellectual property. This is because it can pay claims made against you for financial loss suffered by a client should events occur where it results that you’ve mishandled data or given the wrong advice. Hopefully you never need it, but it is nice to know it’s there just in case! If you think you need professional indemnity insurance and aren't sure where to look, drop us an email and we can recommen...