There is a strong connection between Intellectual Property (IP) rights and professional indemnity insurance, as professional indemnity insurance is the policy that can cover you in case of intellectual property infringement’s accusation.
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Professional indemnity (“PI”) insurance (also called Error and Omission insurance) is to cover the professional persons. It protects them against legal liability to pay damages to persons who have sustained financial loss arising from their own professional negligence or that of their employees, in the conduct of business.
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You must consider buying professional indemnity insurance for your business. It doesn’t matter whether your business involves giving advice, offering professional services or managing clients’ data. Whichever industry you are in, you have the responsibility to provide quality advice or service.
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