Professional Indemnity Insurance is a type of insurance aimed at businesses and business professionals in industries where their customers may rely and make decisions based on their professional advice. As an 'expert', others may seek legal action against you if they suffer a loss from your professional advice. Professional Indemnity Insurance thus provides financial protection and can help you manage your risk exposure.Businesses that provide a professional service (e.g. accountants, IT professionals, consultants, bookkeepers, etc.) are regarded by their clients as experts in their fields. In the litigious Australian context, clients will not hesitate to make a claim against these 'experts' when they believe they have suffered as a result of their actions.