Professional Indemnity Insurance (PII) is a form of liability insurance that helps protect professional advisers, service-providing individuals and companies from bearing the full cost of defending themselves against a negligence claim made by a client and damages awarded in such a civil lawsuit in the conduct their business.
Who Needs It?
This policy is designed for Professionals such as;
Doctors and medical practitioners which covers registered medical practitioners
Lawyers| Advocates| Solicitors | Counsel
Chartered accountants| Financial accountants| Management consultants
IT Contractors & Consultants| Web Designers
Estate Agents | Surveyors
PII not only protects against risk and legal expense, it gives the policyholders flexibility and choice in relation to their insurance package giving the confidence that all areas of activities are covered and the peace of mind in the event you are exposed to claims.
In case you never knew:
It is a legal requirement under section 45 of the NHIS Act 1999 and Insurance Act 2003 for medical practitioners in Nigeria to have Healthcare Professional indemnity insurance policy.