Professional Indemnity Insurance
Professional Indemnity Insurance (PI insurance) provides coverage for claims arising from professional services, including allegations of negligence, errors, omissions, or breaches of professional duty, resulting in financial loss to a third party. The insurance indemnifies professionals or professional services organizations against the financial consequences of claims alleging errors, omissions, or negligence in their work. Also referred to as Professional Liability Insurance in some jurisdictions such as North America.
See also: indemnification