Professional Indemnity  Insuranse is typically for organizations that provide consultation or any professional services to its clients. PLI covers claims made by the business in case their clients have sued them for making them endure any significant financial loss due to their advices and services. 

Professional Indemnity Insurance seeks to protect your assets, your reputation, and the contents of your back pocket should this occur. This means you can continue in your business without the stress of financial or reputational ruin should a claim arise.

Professional liability insurance is defined as a form of insurance that can help pay for legal expenses when clients claim something you did – or didn’t do – hurting them financially. Professional indemnity or Errors and Omissions (E&O) Cover is specifically designed to address such possibilities of a claim providing a wide coverage beyond a contract breach.

Key Benefits

1. Breach of Confidentiality: When client information or plans are accidently revealed by you or your employees unintentionally, the policy can protect you from subsequent claims.
2. Loss of Data & Documents: It covers any financial loss to clients arising out of data or document loss from negligence.
3. Intellectual Property Infringement: It covers claims made for violation of IPR arising due to a software bought from vendor or an employee using design from previous company.
4. Libel & Slander Cover: A libel act is committed through any of the visible means, including print (magazines, newspapers), sculptures and films. Slander is a defamation which is done through spoken words.
5. Employee Dishonesty: It do not generally cover deliberate fraudulent activities. Claim is covered if insured is unaware of an dishonest act by an employee leading to loss to client
6. Loss due to delay: Services & products can be delayed due to manpower issue or system failure. It covers you from any loss arising out of resulting delay.