Professional Indemnity (PI)
Definition
Professional Indemnity (PI) insurance policies offer liability cover for professionals to protect them against exposures which may arise from breach in their professional duties.
Why is product relevant
- Mistakes can happen to the best of their profession which may lead to personal liability
- Every insurance policy is individually tailored to the specific needs of each profession
- Insurance is often legally or contractually required
Who isc overed?
- Professionals such as architects, engineers, (business) consultants, estate agents, solicitors, translators, media, telecommunications and digital business and all their employees
What is covered?*
Losses arising out of breach of professional duties, e.g.:
- Civil liability actions
- Negligent duty violation or omission
- Unintentional breach of IP rights or confidentiality
- Fraud and dishonesty or dishonest, fraudulent or malicious acts or omission of employees
- Misstatement or misleading statement
- Libel or slander
Who can claim?
- Clients of the policyholder or other third parties
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*Subject to terms and conditions of the respective insurance policy
For further queries, please contact Adeline Roupillard,
Allianz Global Corporate & Specialty SE
mysmartgate@allianz.com
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