Five Types of Organizations Which should have Professional Indemnity Insurance

A professional is susceptible to making errors or omissions while discharging his/her duty. For example, a doctor may commit some kind of error while performing a surgery, which may cost the life of their client. Under such circumstances, the professionals may face litigation issues that can compel them to pay the appropriate compensation to their clients. Hence, hospitals are recommended to purchase professional indemnity insurance in order to get coverage for unforeseen liability. Here are some of the organisations that should purchase professional indemnity insurance.

Read more
Get ₹10 Lac Cover starting at ₹873*

Get right expert advice

Hassle free policy

Speedy Claims

Spend Less Save More!! Check Our All-Speciality Rate Chart

Fast-track your search with instant quotes from top insurers

Get Customized Professional Indemnity Plans Instantly

Step 1/2

Get Customized Professional Indemnity Plans Instantly

You are -
secure-icon We don't spam
Get Updates on WhatsApp
View Plans

Get Customized Professional Indemnity Plans Instantly

Step 2/2
Fast-track your search with instant quotes from top insurers
Expert advice

Buy right

Instant policy

Quick & Hassle free

Dedicated team

Speedy Claims

Spend Less Save More!! Check Our All-Speciality Rate Chart

Types of Organizations Which Must Have Professional Indemnity Insurance

Let us discuss the types of organizations which must have professional indemnity insurance for the smooth run of their work and business.

  1. Hospital

    Many medical practitioners and surgeons work in a hospital. Medical professionals are prone to risks that can turn into huge financial liability. The hospital also includes interns who may make errors or omissions. Therefore, a hospital is a type of organisation which must have professional indemnity insurance.

    The professional indemnity insurance bear the legal cost that a doctor may incur while dealing with a case. For example, a doctor, while performing treatment of a patient, may make an omission. In addition, the patient may lose his life and his family may sue the doctor for medical negligence.

  2. IT Companies

    The IT companies provide IT services and employ engineers. These engineers are liable for developing software and websites for various companies. IT companies play a crucial role in the advancement of software and website in various companies.

    Hence, an error or omission may lead to a huge loss to their client. As a result, IT companies may face lawsuits. In addition, a lawsuit may be further instituted for the data loss. For example, due to malware in the software, the company may lose its crucial data. Hence, IT companies must buy professional indemnity insurance.

  3. Manufacturing Company

    Professional Indemnity Insurance is a manufacturing company's essential defense against liability and risk. It safeguards from legal battles and financial losses due to errors in design, products, or contracts. Vital for preserving reputation and client trust, it's a strategic investment that ensures seamless operations in the complex manufacturing landscape.

  4. E-commerce

    In the fast-paced world of e-commerce, Professional Indemnity Insurance is a vital shield against liability and risk. It covers legal and financial ramifications of errors, data breaches, and transaction issues, safeguarding both finances and reputation. This is an essential investment for maintaining customer trust and navigating the digital marketplace confidently.

  5. Banks

    Professional Indemnity Insurance is essential for banks, providing protection from mistakes and risks. It covers legal and financial consequences of errors in the complex financial sector, safeguarding the bank's reputation and client trust. It's a crucial tool for navigating the industry confidently.

Explore Types of Professional Indemnity Insurance


The aforementioned organizations must purchase a professional indemnity policy in order to avoid losses in the business or profession. The lawsuits may compromise the goodwill of a firm and may lead to severe losses. Hence, to avoid such loss, the companies must purchase general liability policies.

Written By: PolicyBazaar - Updated: 24 August 2023
Professional Indemnity Insurance Companies

Now help your friend get Business Insurance

Your referral is greatly appreciated!

Our team will reach out to your friend soon to help with their business insurance requirements.

Professional Indemnity Insurance Articles
Becoming a doctor in India is not just about prestige and earning respect. It also means taking on the important...Read more
31 Oct 2023 by Policybazaar 1453 Views
A doctor performs several risk-associated tasks. He needs to cure different kinds of diseases affecting patients...Read more
27 Apr 2023 by Policybazaar 3313 Views
Indemnity clauses are an essential component of contracts, helping to define the allocation of financial...Read more
25 Oct 2023 by Policybazaar 791 Views
Professionals such as lawyers, chartered accountants, doctors, engineers, etc. are susceptible to several kinds of...Read more
29 May 2023 by Policybazaar 2011 Views
For a professional, regardless of expertise or knowledge, mistakes can still be inevitable. A single mistake can...Read more
15 Nov 2022 by Policybazaar 2811 Views
Choosing the right lawyer is crucial when dealing with the...Read more
03 Apr 2024 by Policybazaar 46 Views
The healthcare industry is a dynamic force constantly reshaping...Read more
29 Mar 2024 by Policybazaar 48 Views
In the complicated world of contracts, unforeseen circumstances...Read more
29 Mar 2024 by Policybazaar 75 Views
Financial planning for doctors requires a nuanced approach...Read more
29 Mar 2024 by Policybazaar 70 Views
Making mistakes is an inevitable part of any profession...Read more
19 Mar 2024 by Policybazaar 71 Views
Policybazaar for Business - Professional Indemnity Insurance - Customer Reviews
View all
Based on 21 reviews
out of 5
Based on 21 reviews
0 users
15 users
6 users
0 users
0 users
4.5 April 24, 2023
Helpful Purchase
Profesiona Indemnity Insurance has been a game-changer for my consultancy business. It has given me the confidence to take on new projects and expand my services, knowing that I have robust coverage in place.PolicyBazaar has been fantastic in answering my questions and tailoring the policy to my specific needs.Thanks PolicyBazaar.
3.5 April 12, 2023
Amazing Deals
I recently purchased Professional Indeminty Insurance from PolicyBazaar and the claims process is smooth, and has always been prompt in resolving any issues or concerns I've had. I appreciate the reliability and professionalism they exhibit.
3.8 March 31, 2023
Online Purchasing
Profesional Indemnity Insurance has been a lifesaver for my business. It offers comprehensive protection against any claims that may arise from errors or negligence on my part. The claims process was straightforward, and they handled everything efficiently. I highly value the peace of mind this insurance provides and would recommend it to any professional.
4.3 March 13, 2023
Impressive Features
I had an excellent experience while buying Personal Indemnity Insurance. It was quick and easy to get a quote online and the premiums were quite affordable. The policy covers all the essential aspects, and the customer service team was responsive and supportive. I feel much more confident in my work knowing that I have this coverage
3.8 March 01, 2023
Helped To Secure Confidential Data Of Company
As a Owner I had a high risk of loss of confidential data. Then my colleague suggested me go for PI Insurance at PolicyBazaar. So I visited their website and contacted the team. They answered all my queries, and when I got satisfied with the plan, I made a purchase. Thanks, PolicyBazaar.
4.3 February 17, 2023
Covers Legal Expenses
There was a party that made a claim against us for professional negligence by one of our employees. Thanks to PolicyBazaar which helped me protect our financial position and helped us during the claim process that covered our Legal expenses and Settlement cost. Highly Recommend this.
4.3 February 05, 2023
Covers The Risks
I bought Professional Indemnity Insurance from PolicyBazaar, as I was looking for insurance that could mitigate my risk associated with several professional services. Thanks to PolicyBazaar. It was worth buying. Highly Recommend it.
4.3 January 24, 2023
Helps Me To Focus On My Work
I was always concerned about my organization in order to safeguard against potential liabilities and unforeseen circumstances that could arise from professional negligence. So I bought PI Insurance at Policybazaar and found it good as it helped me to focus on my work without worrying about financial repercussions. So thanks to PolicyBazaar.
3.8 January 08, 2023
Amazing Deals
I bought Professional Indemnity Insurance from the PolicyBazaar website and found it suitable for my business. I run a small company. I got terrific Deals at PolicyBazaar. It was an excellent Purchase. Thankyou PolicyBazaar.
4.3 December 14, 2022
Doctor Vishal
Covers Professional Negligence
As a Doctor, I was searching for Professional Indemnity Insurance that could provide me coverage against claims for Negligence in my services. Then I visit PolicyBazaar Website. There I came across several benefits. So I made the purchase there. Thanks, PolicyBazaar.