For Professional Indemnity (PI) cover, ‘professional services’ are the duties performed by qualified individuals or entities registered under the relevant governing Act(s) for their field, as specified in the policy schedule.

Any individual or business offering specialised advice, expertise, or services should consider PI cover. This includes, but is not limited to:

• Legal sector: Attorneys, advocates, and legal service providers. 
• Built environment: Consulting engineers, architects, quantity surveyors, land surveyors, project managers, developers, contractors. 
• Financial services: Accountants, auditors, actuaries, brokers, and financial institutions. 
• Other professionals: IT firms, multimedia companies, travel agents, management consultants, loss adjusters, valuators, and many more.

PI claims usually arise from:

• Third-party contracts where service delivery falls short.
• Negligence leading to injury, damage, or loss while performing professional duties. 
• Global exposure, depending on the nature of the insured business, with claims potentially originating from anywhere in the world.

While exclusions may vary according to the profession and wording used, some commonly excluded risks include:

• Fraud and dishonesty.
• Fines and penalties.
• Asbestosis.
• Nuclear-related incidents. 
• Pollution.
• War and terrorism.