Professional indemnity insurance policy

Professionals are employed with complete trust and faith by clients. Unfortunately, human error cannot be eliminated and hence they are exposed to the risk of claims from clients who have suffered a loss due to neglect, error or omission. In today’s litigious world, claims can pose a significant threat to financial security. The Professional Indemnity policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service or for settlements negotiated in accordance with the coverage afforded by the policy. Professional indemnity helps protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client.

Professional Indemnity Plan covers for the following

  • You provide advice or professional services to your clients (including consulting or contracting), viz. such as working as an architect or design engineer.
  • You are providing technology based services or software and if there is failure in the same.
  • You want to protect against allegations of mistakes or negligence in work you have undertaken for your client.
  • You work as a contractor, consultant, and your client has requested you arrange professional indemnity plan in order to undertake a contract.
  • Your industry association/regulatory body requires you to have it viz. NPCI (National Payments Corporation of India), PCI DSS (Payment Card Industry Data Security Standard).

  • The policy covers all sums which the insured professional becomes legally liable to pay as damages to third party in respect of any error and/or omission on his/her part committed whilst rendering professional service.
  • Legal cost and expenses incurred in defence of the case, with the prior consent of the insurance company, are also payable, subject to the overall limit of indemnity selected.
  • Only civil liability claims are covered.


  • Criminal acts.
  • Acts committed under Influence of intoxicants/narcotics.
  • Non-compliance with statutory provisions.
  • Punitive and exemplary damages.
  • Radioactivity.

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