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Professional indemnity insurance responds to claims for breach of professional duty or negligence resulting in financial loss. A software developer entered into a contract with a client to create a specific kind of software. Professional indemnity pi insurance provides essential financial protection for it professionals against potential losses arising out of their professional service or advice. Professional indemnity insurance covers you for the legal costs in defending actions brought against you and the costs of the award associated with the action. Professional indemnity insurance for yoga practices in. Single project professional indemnity sppi is an insurance solution arranged around the lifecycle and needs of a specific construction project. Professional indemnity insurance covers you for claims arising from allegations that your specialist services or advice caused financial loss to your customersclients. Professional indemnity insurance covers the daytoday activities that bring in the revenue, for example an it consultant sued by their customer when software they recommended and installed doesnt do what they promised.
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