Why you need Professional Indemnity Insurance
If you give professional advice or provide a fee either directly or indirectly for service to your clients then, chances are you need professional indemnity insurance.
While professional indemnity is mandatory in some industries such as medicine, accounting, bookkeeping, law, mortgage brokers and financial advisers, it is also recommended for anyone who is providing professional services or advice in exchange for a fee. This can include graphic designers and IT consultants.
PI policies vary vastly in wording, coverage and cost and are quite technical to understand and grasp. Certain occupations also have different clauses and exclusions that the business owner must be aware of and understand, as limitations in cover and protection apply.
Contact ARMA Insurance Hunter Valley expert to discuss your professional indemnity coverage options.