PROFESSIONAL INDEMNITY insurance
As a business owner you are potentially liable for any injury or damage that your business activities cause to a third party. Accidents can and do happen. A Public and Products Liability insurance policy will ensure that you and your business are protected. However, if your business provides a professional service or advice you could also face claims of negligence or a 'breach of duty owed'. this type of risk is typically covered by a Professional Indemnity policy.
You may need both depending on your business activities.
The threat of potential claims and litigation is very real in today’s business and economic environment. The legal costs alone to defend these type of claims can be hefty and have the potential to bankrupt a business if there is no insurance protection in place.