Since I constantly get insurance questions from clients and friends (more so than a doctor), I’ve decided to start my own little insurance Q & A blog. Here goes!!!:
Q. What is Professional Indemnity Insurance?
A. Professional Indemnity (PI) insurance can be used to protect your business from huge losses caused by people sueing you for professional negligence or failure to perform your professional duties. It doesn’t matter if the claim is baseless or not, a legal defense could bankrupt you and your company. Without Professional Indemnity Insurance, your company could be financially over-burdened by a lawsuit.