Professional indemnity insurance is a type of insurance that covers professionals and businesses for their legal costs when they are sued. In other words, it protects you from being sued for anything you did wrong.
You can buy professional indemnity insurance on your own as long as you have a professional license or certificate. There are many different types of licenses and certificates, but most of them fall into one of three categories: medical, engineering, or accounting.
If you're an accountant and you provide tax advice to a client, for example, then your work could be considered "accounting services" and therefore would fall under the category of accounting services. This means that if you were sued for any reason related to your work as an accountant (or even if you just had an accident while working) then the company offering professional indemnity insurance would cover all of your legal costs related to being sued over your work as an accountant. even if what happened was completely unrelated to being an accountant!
You can buy professional indemnity insurance on your own as long as you have a professional license or certificate. There are many different types of licenses and certificates, but most of them fall into one of three categories: medical, engineering, or accounting.
If you're an accountant and you provide tax advice to a client, for example, then your work could be considered "accounting services" and therefore would fall under the category of accounting services. This means that if you were sued for any reason related to your work as an accountant (or even if you just had an accident while working) then the company offering professional indemnity insurance would cover all of your legal costs related to being sued over your work as an accountant. even if what happened was completely unrelated to being an accountant!
