Professional indemnity insurance
Also known as: PI insurance, professional liability insurance, E&O insurance
Professional indemnity insurance (also called professional liability insurance) protects professional services firms against claims brought by clients or third parties alleging that the firm provided negligent advice, made errors, or omitted important steps. Most professional regulators in Jamaica require their members to hold adequate professional indemnity cover. The insurer may process certain personal data in connection with a claim.
Related terms in Key concepts
Anonymisation
Altering personal data so that individuals can no longer be identified, directly or indirectly.
Automated decision-making
Making decisions solely by automated means, without human involvement, that significantly affect individuals.
Beneficial ownership
The natural person who ultimately owns or controls a legal entity.
Biometric data
Unique physical or behavioural characteristics used to identify an individual, such as fingerprints.