A lot of people get confused between Public Liability and Professional Indemnity Insurance. So we’ve broken them down for you:
Professional Indemnity Insurance^ can help protect you against losses claimed by a third party due to alleged or actual negligence or errors in your professional services or advice. For example, a customer could sue you for damages if it’s alleged that your recommendation has caused a loss. This type of insurance is typically suited to financial advisors, management consultants, accountants, lawyers and health professionals.
Public Liability insurance^ is designed to help provide protection for you and your business in the event a customer, supplier or a member of the public are injured or sustain property damage as a result of your negligent business activities. For example, if a customer slips and falls on your premises.
Some businesses could benefit from both professional indemnity insurance and public liability insurance. For example, an allied health professional might receive a claim against them for an injury that happened during treatment or allegations of negligence from that same client if they tripped over a towel left on the floor while leaving the treatment room.