Who Needs Professional Indemnity Insurance (or PI Insurnace)? People who work in service-related occupations, such as architects, financial planners, investment bankers, accountants, engineers, IT professionals, doctors, and medical professionals benefit the most from professional indemnity insurance, otherwise known as PI insurance. A Preventative Measure PI insurance is a preventative measure against lawsuits that arise as the result of the negligence of a professional or someone on his staff. The policy covers the professional or his [...]
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Professional Liability Insurance Covers Claims Made During the Time the Policy is in Force Professional liability insurance, or insurance protection for professional neglect or errors and omissions, is generally set up so that claims filed during the policy period are paid. Therefore, claims that arise at a time before the insurance was in force might not be covered. However, some liability plans do provide for protection by including a retroactive date in the terms of [...]
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