Professional indemnity insurance also known as PII is a popular type of insurance cover. Professional indemnity insurance is a type of no-fee solicitor service that makes people aware of their rights to redress if they suffer from a financial injury due to someone else's mistake.
Professional indemnity insurance also helps a person to protect himself or herself against claims of financial injury by someone else. The insurance pays any legal costs which happen when a person defends against such a claim an action.
The financial injury cases can be really long, expensive and stressful affairs. In some cases the fees can actually be hundreds of thousands of pounds or more. This can be really troublesome for a company in financial terms.
So it is better for a company to go for a Professional indemnity insurance cover.
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