Professional Indemnity Insurance | Policysouq

Professional Indemnity Insurance

Professional Indemnity Insurance is an insurance cover that protects companies against financial claims from their clients and other third-party claims arising from any of the following reasons:

  • Unintentional breach of professional duty
  • Professional negligence
  • Errors and omissions
  • Poor advice
  • Libel and slander
  • Infringement of intellectual property rights
  • Loss of documents
  • Unintentional breach of contract
  • Limit starting from AED 500,000 on any one occurrence

Professional Indemnity Insurance would pay out the financial damages awarded by a court of law and will also pay for related legal defence costs up to the limit specified in the policy. Cover is offered on an annual renewable basis but can also be offered for a specific project.

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Who can buy professional indemnity ?

Professional Indemnity Insurance is aimed at protecting businesses that provide advice or a professional service to their clients for a fee. Here are some examples:

  • Medical Malpractice Insurance Professionals
  • Architects, consulting engineers & project managers
  • Lawyers
  • Accountants or auditors
  • Insurance brokers
  • Financial institutions or investment advisory services
  • Surveyors
  • IT consultants
  • Media and marketing agencies
  • Miscellaneous consultants (Management, HR, Business, PRO Services, Sports)
  • Facilities management services
  • Real estate consultants

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