- professional indemnity insurance
Insurance that gives protection against legal liability for damage or compensation arising out of any neglect, error or omission committed or alleged to have been committed by or on behalf of the insured in connection with the business.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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indemnity — in‧dem‧ni‧ty [ɪnˈdemnti] noun indemnities PLURALFORM 1. [uncountable] INSURANCE protection against loss or damage, especially in the form of an official written promise to pay for any losses or damage: • Every full time employee at our firm… … Financial and business terms