A Professional Indemnity insurance policy will provide cover to the insured against loss arising from any claim or claims for breach of duty which may be made and reported to the insurers during the policy period by reason of any neglect, error or omissions committed in the conduct of the insured’s professional business. Professional Indemnity insurance can help people weather the strain of a lawsuit.
Each profession and professional has slightly different requirements. Professions that usually need to purchase Professional Indemnity insurance include:
- Accounting and Financial Services
- Architecture
- Consulting
- Engineers
- Legal
- Medical (Medical Malpractice insurance)
Only a limited number of insurance companies both in Malta and abroad offer this product. It is therefore important to contact us to discuss whether or not such an insurance policy is required and what the limits of liability should be.