The purpose of professional indemnity (PI) liability insurance is clear: if you are a professional (whether a member of one of the 'traditional' professions or a knowledge-based professional, such as an information technology [IT] contractor, consultant, surveyor, architect or engineer), you would have a PI policy to cover the potential liabilities you may incur in the conduct of your professional business.
But not all PI policies are the same. Different PI policies are based on:
Do you know which applies to your PI cover, and do you understand the implications? This technical update from LIU discusses these issues.