Business insurance

Professional Indemnity Insurance in Ghana

Protection against claims of professional negligence and error.

In brief

Professional Indemnity (PI) insurance protects firms and professionals against the cost of claims alleging negligence, errors or omissions in the advice or services they provide, including legal defence costs and any damages awarded.

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What’s covered

Claims of professional negligence
Errors and omissions in advice or service
Breach of professional duty
Defamation and breach of confidentiality
Legal defence costs
Loss of documents and data

What’s not covered

Dishonest or fraudulent acts
Known claims or circumstances before inception
Bodily injury and property damage (use liability)
Contractual penalties and guarantees
Trading losses and insolvency

Who it’s for — Professional service firms and individuals whose clients rely on their advice — engineers, architects, consultants, accountants, lawyers, IT firms and healthcare providers.

What does professional indemnity cover?

PI responds when a client alleges they suffered a financial loss because of your professional advice, design or service — for example a mistake, oversight, breach of duty or misstatement. The policy pays the legal costs of defending the claim and the compensation you are liable to pay, up to the limit of indemnity you select.

Which professions need PI cover?

Any business whose advice or expertise its clients rely on: consultants, engineers, architects, accountants, lawyers, surveyors, IT and software firms, brokers and medical professionals. Many professional bodies and contracts in Ghana now require evidence of professional indemnity cover before work begins.

FAQs

Frequently asked questions

Is professional indemnity the same as public liability?

No. PI covers financial loss from your professional advice or service; public liability covers injury or property damage to third parties. Many firms need both.

What limit of indemnity should I choose?

It depends on your contract requirements and the scale of work you handle. A Provident agent can help you set an appropriate limit.

Does PI work on a 'claims-made' basis?

Typically yes — the policy must be in force when the claim is made against you, so continuous cover matters.