People get confused about public-liability insurance and professional indemnity insurance as they both protect against negligence actions, but these two type of insurances are different policies.
Public-liability insurance is designed to provide protection to your business when a business is responsible for things like any damage to the third party or their property or physical loss. So it protects the business and business owner from claims which are made by third parties, when they hurt themselves on the business premises due to business owner’s negligence.
Professional indemnity insurance is an insurance which provides coverage for professionals like doctors, lawyers. If any fault or financial loss occurs which results in any errors and omissions in advice or any professional negligence, then it may lead to claims, so all these legal costs of charges are covered by professional indemnity insurance.
The Business, where the customers must come onto the premises to engage the business services, then it is necessary for such businesses to take this type of insurance policy. The purpose of this insurance is to protect insured against any injury to the customer which may happen on business premises by the use of services of the businesses. A wide range of costs are covered by public-liability insurance. Injured’s medical costs, lost wages, any property damage, which occur due to negligence of the policy holders, are covered by this insurance.
So, the above information is about the difference between the public-liability insurance and professional indemnity insurance. If you read this you can find out the difference between these two policies.