Professional Indemnity is not just for solicitors - a small piece of advice could lead to a big claim
If you are providing advice to a customer or an error occurs in your manufacturing process you have just entered the world of Professional Indemnity. If your customer suffers a financial loss (no bodily injury or loss or damage to your customer’s property assets) because of poor advice or because your product failed due to an unforeseen error in design / process, then a Professional Indemnity policy (or “Manufacturers’ E&O”) could prove invaluable. Protecting your business against customers looking to recoup their financial loss through legal disputes. On the plus side and without even facing the prospect of a potential lawsuit, Professional Indemnity insurance can enhance your position by assuring clients (and investors) by feeling confident doing business with you.
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