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The specialists in looking after the Professionals for over 30 years


What is Professional Indemnity Insurance “PI”?

A PI policy covers You as an Individual Professional or Your Firm against the Legal Costs in Defending You and/or Your Firm,  as well as any Damages You or Your Firm may have to pay as Compensation for any Actual or Alleged Negligence or Breach of Professional Duty.

Who Needs it and Why?

Despite your best efforts mistakes do happen.Even if you are confident in the quality of Your work  any Professional is vulnerable to a claim or allegations of negligence when their Professional Advice or Services fail to meet a Client’s expectations or their contractual commitments,even if they are only “perceived”failures.

Once a Client commences a legal action,  You must be a position to hire the very best Legal resources to defend you or You will very likely lose the action and the consequences could be crippling.The cost of expert Legal resources are extremely high,for example a single day in court could cost You R 150 000 without taking into account pre-trial attorney costs. And that is just Your costs without the Damages if You are found Liable and as well as the Claimants Costs.

What does a PI Policy Cover?

Policies vary from Profession to Profession and PIFRS provides expert opinion and specially tailored wordings to suit each particular Profession.In a nutshell the PI Policy covers:

- The Cost of the best Legal Defence and Claim Mitigation Team
- The Damages and Claimants Costs if the action is lost.

This is the “core” cover but there are many special extensions that PIFRS negotiates.


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