Professional Indemnity (PI)
Professional indemnity protects an organisation against claims made in respect of negligent advice given where a financial loss has occurred.
For organisations providing advice to individuals and/or third party companies, it is strongly recommended that professional indemnity cover is obtained. Advice can be anything from consultancy work, to providing guidance on completing welfare and benefit forms. You may find that if you are providing such services as part of a contract with a third party, this company requests proof of such insurance and this can be provided for you if necessary.