| 单词 | professional indemnity insurance |
| 释义 | professional indemnity insurance professional indemnity insurance(PII) A form of third-party insurance that covers a professional person, such as a solicitor, surveyor, or accountant, against paying compensation in the event of being sued for negligence. This can include giving defective advice, if the person professes to be an expert in a given field. There have been a number of very high awards made to plaintiffs (especially in the USA where PII is known as malpractice insurance) and this has greatly increased the cost of obtaining cover. One solution is for firms, of accountants for example, to form limited liability partnerships rather than traditional partnerships. |
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