A professional indemnity policy provides protection for you or your businesses in respect of a legal liability arising from a conduct issue during the course of your work or the practice of your business.
The sort of things you would be covered for include;
Settlements by or judgements against you or your business arising out negligent advice or services.
Legal costs and expenses associated with defending a claim.
Also included may be;
Liability arising from a previous business or occupation
Loss of documents
Breach of confidentiality
Automatic reinstatement of policy limits
Liability or loss through dishonesty by employees