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What is Professional Indemnity Insurance?

Also known as an errors and omissions (E&O) policy, this policy provides insurance against legal liability arising out of errors, omissions or negligence while rendering a service. It is taken by professionals including(but not limited to) doctors, engineers, architects, chartered accountants, lawyers, interior decorators and management consultants.

Many companies who outsource or subcontract require this of their vendors as part of the contract.

Limit of Indemnity

This is the sum insured, the maximum the insurer will pay as claim amount under this policy. It is split into two, Any One Accident(AOA), which is the maximum the insurer will pay for a single claim; and Any One Year(AOY) which is the maximum the insurer will pay during a single policy year.


Every liability policy has a deductible, or retention, which is the amount the policyholder has to pay out-of-pocket in case of a claim

Pricing factors

Premiums depend on a variety of factors, including the geography of revenues, nature of work done, limit of liability, territory of coverage(limited to India, worldwide or anything in between), number of clients(and the revenue share of each), etc

Professional Indemnity/ Errors and Omissions Insurance cover provides protection for the company for claims brought in respect of negligent acts, errors or omissions in the performance of professional services. The policy is meant to pay for defence expenses and damages and includes amounts that you are legally required to pay because of judgments, arbitration awards or the like rendered against the insured, or for settlements negotiated in accordance with the coverage afforded by the policy.

Errors & Omissions policies are very flexible, and many of the below given benefits are optional, or can be added/removed. These benefits may be sub limited to a certain % of the sum insured, depending on insurer.

Defense Costs

Legal defense costs. Insurer may choose to appoint their own lawyers; or work with your appointed legal counsel. Covered under every Professional Indemnity policy.


Every liability policy has a deductible, or retention, which is the amount the policyholder has to pay out-of-pocket in case of a claim

Emergency Defense Costs

Legal help that is required immediately, before claim can be processed

Fraud and Dishonesty of Employees cover

Legal issues arising due to isolated actions of an employee or group of employees.

Breach of confidentiality extension

Cover will automatically include any suit that contains breach of Confidentiality.

Interference with Privacy Extension

Covers claims alleging unlawful interference with privacy

Auto Acquisition of New Subsidiaries

New Subsidiaries created can be added to the policy during the policy period. This is usually limited to subsidiaries whose turnover is 15% of the parent company’s or less

Loss of Documents/Data

Any claim resulting due to loss of documents in your care. This applies to electronic data as well. Data Breaches however are covered under cyber liability not professional indemnity.

IPR and trade secrets extension

Any claim alleging breach of intellectual property rights and/or divulging of trade secrets. Patent Infringement is generally excluded.

Defamation including Libel and Slander

Cover for claims arising due to allegations of libel or slander.

Court Attendance Fee

Provides a payout for court attendance; usually in 2 slabs, one for directors and one for employees

Mitigation costs

Costs that are incurred to handle a claim event before a lawsuit, to avoid bad publicity, etc

Consequential loss, special damages and loss of claimant's profits

Any court ordered loss to claimant for consequential loss or loss of profits. This is not always available, will depend on the nature of your work.

Failure of Technology Product

Claim due to failure or non-performance of your product even if you have stated you will do the best and maintain set standards. Applicable only to tech/software companies.

Wilful negligence, fraud, criminal intent

Any negligence, fraud, or action that is found to be committed intentionally is not covered.

Any claim payment that would place sanctions on the insurer by regulatory or government authorities is also not covered. This is known as sanctions & limitations clause.

Contractual liability

If you have a contract that specifies a certain monetary penalty in case of failure of service, that payment will not be covered.

Liability covered by other policies

An errors & omissions policy will only cover liability claims arising from performance of professional services.

Any claim that would be covered under a Commercial General Liability policy, or a Workman’s Compensation policy, etc. will not be covered by a professional indemnity policy.

Companies also bought

Businesses who bought Professional Indemnity also bought the following product as part of their insurance coverage

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Also known as Mediclaim, or Group Mediclaim insurance, This policy provides health insurance to your employees. As an employer, ensuring the well-being of your employees...

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