(E&O Insurance, Professional Indemnity Insurance)
Professional Indemnity Insurances most commonly known are those for lawyers, tax consultants and chartered accountants. However, other service providers and lines of business may also insure the risk of becoming third party liable for financial loss in their day-to-day business, under a Professional Indemnity Insurance or E&O. If the risk becomes more complex as for example concerns financial service providers or the IT-industry the demand for professional service increases accordingly.