Professional indemnity insurance, also known as errors & omissions (E&O) in the US, protects individuals and companies who provide services, in particular professional advice, from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in a civil lawsuit.
UK Focus:
- Single-risks & schemes
- £10m maximum LOI per risk for miscellaneous
- £5m maximum LOI for all other professions / trades
- Broker, Affinity and InsurTech distribution
UK Professions Considered:
- Accoutants, architects, consulting engineers
- Design & construct, insurance intermediaries
- Business & IT consultants, miscellaneous trades
- Surveyors, media & marketing, charities
EU & International:
- Single-risks & schemes
- Schemes or portfolios of PI business
- Wordings in other languages and jurisdictions
- £10m maximum LOI per risk for miscellaneous
- £5m maximum LOI for all other professions / trades
- Broker, Affinity and InsurTech distribution
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