What is indemnity insurance?

Indemnity insurance is an insurance policy that compensates you in the event of certain unexpected damages or losses. The compensation is usually for the amount of loss you experience being at fault for a specific event such as a misjudgement or malpractice this includes a client complaining about you giving the wrong or misleading information.

Indemnity insurance is a supplemental form of liability insurance specific to professionals or service providers as a professional delivering, providing expertise, or specialised services.

In a nutshell, this insurance ensures that if you make a poor decision during the delivery of your services which leads to a client making a civil claim against you, your policy will cover the court costs and any damages awarded to the client by the court.

What is public liability insurance?

Public Liability insurance is a form of insurance that protects your business against claims that result from accidents or injuries resulting from your business activities, including accidental damage to property owned or controlled by someone else.

Suppose you work with clients or customers in public spaces, visiting areas owned or controlled by others or having visitors to your premises. Public liability insurance is your best defence against costly personal injury or property damage claims.