Compare the Best Professional Indemnity Insurance in Singapore

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What is Professional Indemnity Insurance?

Professional indemnity insurance in Singapore is a crucial safeguard for professionals and businesses, offering protection against legal costs and claims for damages from clients due to alleged negligence or breach of duty.

This type of insurance acts as a financial shield, ensuring that your professional reputation and financial stability are preserved in the face of unexpected legal challenges.

Whether you’re providing advice, offering a service, or engaging in consultancy, professional indemnity insurance is your silent partner.

It empowers you to conduct your business with confidence, knowing that you’re protected against the unforeseen pitfalls that can arise in the complex landscape of professional services.

Why Professional Indemnity Insurance?​


Safeguard Against Legal Liabilities

Professional indemnity insurance acts as a critical defense mechanism, offering protection against claims of negligence or breach of duty, thus safeguarding your financial resources and professional reputation from the impact of legal actions.


Peace of Mind

With professional indemnity insurance, you can operate your business with a sense of security, knowing that you're protected against the potential financial burdens of legal disputes, allowing you to focus on growth and innovation.


Regulatory Compliance

In Singapore, several professions are required to have professional indemnity insurance as part of their regulatory compliance to ensure they are covered against potential legal claims relating to their professional conduct or advice.

Who should get professional indemnity insurance?

Consulting and Advisory Firms

Consulting and advisory firms, spanning from financial advisors to management consultants, stand to gain immensely from professional indemnity insurance. It shields them from legal liabilities arising from the advice they provide, safeguarding their reputation and financial well-being.

Technology and IT Service Providers

For technology and IT service providers, including software developers, cybersecurity firms, and IT consultants, professional indemnity insurance is crucial. It protects against claims of negligence, data breaches, or failure to deliver specified services, ensuring their innovative edge remains sharp and secure.

Medical Professions

Medical professions, from private practitioners to specialists operating within clinics and hospitals, require professional indemnity insurance as a critical form of protection. It covers them against claims of malpractice or negligence, essential in a field where the stakes of professional advice and treatment are exceptionally high.

Best Professional Indemnity Insurance Plans in Singapore

liberty insurance logo

Liberty professional indemnity insurance

If you're a professional providing advice or services, safeguarding against potential legal suits is crucial.

Liberty's Professional Indemnity Insurance is designed for professionals like lawyers, architects, engineers, accountants, and more.

It covers you against the financial consequences of alleged breaches of professional duty, whether through negligent acts, errors, or omissions.

This insurance not only covers compensation claims but also legal costs and expenses incurred in defending these claims.

Liberty ensures you can conduct your professional duties without the looming threat of financial loss from potential lawsuits, providing a solid foundation of trust and security.
aig logo

AIG professional indemnity insurance

AIG’s Professional Indemnity Insurance offers a comprehensive shield against the financial disruptions that professional liabilities can cause.

This policy covers a wide range of professional services providers from accountants to engineers, and even includes specific products like Single Project Professional Indemnity for construction projects.

Key coverage includes loss of documents, dishonesty of employees, and defence costs.

AIG also provides coverage for defamation and unintentional intellectual property rights infringement, ensuring that professionals maintain their reputation and focus on their core services without fear of significant financial loss from potential legal challenges.
chubb insurance logo

chubb professional indemnity insurance

Chubb Elite Professional Indemnity Insurance provides broad protection for a variety of professionals, from architects and engineers to accountants and real estate agents.

This policy covers civil liability claims arising from your professional services, including errors, omissions, defamation, and intellectual property infringement.

Chubb’s coverage extends to legal representation at inquiries and liabilities arising from joint ventures.

With specialty options tailored for specific professions like technology and education, Chubb ensures that professionals across sectors have the right tools to manage their liability risks effectively, safeguarding both their financial stability and professional reputation.
allianz logo

allianz professional indemnity insurance

Allianz provides Professional Liability Insurance tailored to safeguard professionals across various industries, recognising that even the most careful professionals can face claims of negligence or errors.

This policy is designed not only to protect against financial losses from such claims but also to give professionals the confidence to perform their duties without fear.

Allianz evaluates each risk individually to offer customised coverage solutions, which may vary depending on the specifics of the profession and the nature of the risks involved.

Their insurance provides a robust safety net, enabling professionals to focus on their work, secure in the knowledge that they are protected against the potential pitfalls of their professions.
aon singapore logo

AON professional indemnity insurance

AON's Professional Indemnity – Errors & Omissions Insurance addresses the critical challenges faced by professional service firms in today’s litigious environment.

This policy covers claims arising from alleged malpractice or negligence in performing professional duties, ensuring that professionals can maintain their reputation and continue their business without disruption.

Key features include coverage for claims brought by third parties, claims arising from negligent acts, errors or omissions, and defense costs.

AON is renowned for its expertise in handling claims for some of the largest professional service firms worldwide, making it a leading choice for comprehensive liability protection.
qbe logo

QBE Professional Indemnity Insurance

QBE offers an extensive range of Professional Indemnity and Malpractice Insurance solutions tailored to meet the needs of various professionals, including those in the medical, IT, and construction sectors.

Their coverage extends to legal liabilities arising from professional duties, providing financial protection against claims of negligence or breach of duty.

QBE's policies are designed to also cover the costs associated with defending these claims, ensuring that professionals have access to quality legal representation.

Notably, QBE combines different aspects of liability insurance into single comprehensive policies for certain professions, such as IT, to simplify coverage and avoid gaps.
msig logo

MSIG Professional Indemnity Insurance

MSIG’s Professional Indemnity Insurance offers comprehensive coverage tailored to a wide range of professional activities including accountants, architects, and management consultants.

The policy is designed to protect against civil liability that may arise from breaches of professional duty.

Key features include broad insuring clauses that ensure "pay on behalf" protection, covering civil liabilities and defence costs effectively.

MSIG emphasises the importance of mitigating the financial strain from long legal battles, providing coverage for defence costs and damages claims.

Additionally, the policy includes automatic reinstatement of policy limits for defence and public relations expenses, advancement of insured costs for necessary expenses, and court attendance costs for staff required at inquiries.

This robust policy framework ensures that professionals can conduct their duties with confidence, knowing that they have strong support against potential claims.

How to apply for a comparison session?

Step 1

Submit a request for a quote with Corporate Cover. Based on your request, we will match you with one of our MAS-licensed partners.

Step 2

Our partners will obtain quotations from the respective insurers and help you compare based on price, features, and suitability.​

Step 3

Once you've found the perfect professional indemnity insurance policy, feel free to purchase it from a friend, directly from the insurer, or from our partners!

What does professional indemnity insurance cover?

Professional indemnity insurance covers claims made against your business by clients alleging that a mistake, omission, or negligent act in your professional service or advice has caused them financial loss or reputational damage. 

This type of insurance is designed to help cover the costs of legal defense and any damages that may be awarded, ensuring that your financial and professional integrity remains intact. 

It typically includes coverage for legal fees, settlements, and court costs associated with defending claims, even if those claims are found to be unwarranted.

What does professional indemnity insurance not cover?

Professional indemnity insurance does not cover claims related to intentional dishonesty or fraudulent acts by the insured, criminal prosecution, or any known liabilities before the policy was taken out. 

It also generally excludes claims arising from bodily injury or property damage, as these are typically covered under general liability insurance instead. 

Additionally, this type of insurance does not cover fines or penalties imposed by law or regulatory bodies, nor does it handle issues of insolvency or bankruptcy.

What is the difference between public liability and professional indemnity insurance?

Public liability insurance covers claims of bodily injury or property damage caused to third parties due to your business activities. It is designed to protect your business if someone is injured or their property is damaged because of your business operations. This type of insurance is essential for businesses that interact physically with customers or the public.

On the other hand, professional indemnity insurance protects businesses against claims of financial loss or reputational damage caused by errors, omissions, or professional negligence in the services or advice they provide. This insurance is crucial for businesses that offer knowledge-based services or advice, where there is a risk of clients claiming that the service or advice was inadequate or incorrect.

What is retroactive date in professional indemnity insurance?

A retroactive date in professional indemnity insurance is a specified date in the policy that determines the extent of coverage for acts committed before the policy start date. 

This date sets the boundary for which claims arising from acts, errors, or omissions that occurred after this date are eligible for coverage. 

Any professional service or advice given before this retroactive date is not covered by the policy. 

This feature is particularly important for continuous protection as it allows the insured to link the coverage of a new policy with any past professional activities that fall within the set date range, ensuring there are no gaps in coverage.

Who needs professional indemnity insurance in Singapore?

In Singapore, professional indemnity insurance is essential for professionals and businesses that provide expert advice or services, particularly where there is a risk of causing financial loss to clients due to errors, omissions, or negligence. This includes:

  • Medical professionals like doctors and dentists, who need to protect against claims of malpractice or negligence.
  • Legal professionals, including lawyers and solicitors, who require coverage for the advice and legal services they provide.
  • Accountants and financial advisors, who need protection against claims of incorrect advice or financial mismanagement.
  • Architects and engineers, who are at risk of claims related to design faults or project management failures.
  • IT professionals and consultants, who could face claims related to software delivery, data security, and system integrity.
  • Real estate agents, who need to safeguard against errors in property transactions and management.


These professionals and others in similar roles need professional indemnity insurance to protect against the potential legal costs and damages that could arise from their professional activities.

How much professional indemnity insurance cover do I need in Singapore?

The amount of professional indemnity insurance cover you need in Singapore depends on several factors, including the nature of your profession, the size of your business, the typical contracts you undertake, and the potential risks involved.

Generally, you should consider the following to determine the appropriate level of cover:

  • Contractual Requirements: Some contracts may specify a minimum amount of coverage.
  • Potential Liability: Evaluate the potential financial impact of claims that could arise from your professional advice or services.
  • Regulatory Requirements: Certain professions may have regulatory guidelines that dictate the minimum coverage.
  • Industry Standards: Look at common practices within your industry to gauge what others in similar positions are securing.


As a rule of thumb, it’s wise to choose a limit that comfortably exceeds the largest contract or project you undertake.

Most small to medium-sized enterprises in Singapore might start with coverage ranging from S$500,000 to several million dollars, depending on their exposure and client requirements.

Consulting with a professional insurance broker or advisor can also help tailor the amount of coverage to your specific needs and risks.

How much does professional indemnity insurance cost in Singapore?

The cost of professional indemnity insurance in Singapore varies widely depending on several factors, including the type of profession, the level of risk associated with the services provided, the amount of coverage required, and the claims history of the business.

Here are some general guidelines:

  • Profession Type: High-risk professions, such as medical practitioners and engineers, typically face higher premiums due to the greater potential for costly claims.
  • Coverage Amount: The more coverage you require, the higher the premium will be. Businesses often need to balance the need for adequate protection with the cost of the premiums.
  • Claims History: Businesses with a history of claims may face higher premiums as they are considered higher risk.
  • Deductibles: Opting for a higher deductible can lower your premiums, but you’ll need to pay more out of pocket in the event of a claim.


Generally, premiums for professional indemnity insurance in Singapore can range from a few hundred to several thousand Singapore dollars annually, depending on these factors.

It’s advisable to get quotes from several insurers to find the best coverage at the most competitive rate for your specific business needs.

Can I get a quote and buy professional indemnity insurance online?

Yes, you can get a quote and buy professional indemnity insurance online in Singapore.

Many insurers and brokers (including us) offer online platforms where you can quickly and conveniently obtain quotes by providing some basic information about your business and the coverage you need.

These platforms often allow you to customise your insurance coverage to suit your specific requirements, compare different policies, and purchase directly online.

What professional indemnity insurers can your partners help me with?

Our partners have the capability to broker for a wide range of reputable insurers in Singapore, ensuring that you have access to diverse options to best suit your business needs.

Some of the insurers that our partners can assist you with include:

  • AIG
  • Allianz
  • AXA
  • Chubb
  • Cigna Global
  • Liberty
  • MSIG
  • NTUC Income
  • Tokio Marine


By working with our partners, you can explore offerings from these renowned insurers, allowing you to make informed decisions based on your specific business needs and preferences.

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Why you should get your professional indemnity insurance with Corporate Cover


Enhanced Cost Efficiency

Corporate Cover leverages its extensive network of insurance providers to secure competitive pricing for professional indemnity insurance, often below what you might find on your own. By choosing Corporate Cover and our partners, you can benefit from volume pricing and expert negotiations, ensuring you get the best coverage for your budget. This strategic approach not only reduces your upfront insurance costs but also minimises potential financial exposure from claims.


Regulatory Compliance

Professional indemnity insurance is a regulatory requirement for many professions in Singapore. Corporate Cover's partners specialises in understanding these legal necessities and ensures that your coverage meets all industry standards and legal requirements. This compliance support protects your business from potential legal penalties and enhances your professional credibility, making it easier to secure contracts and expand your client base.


Superior Customer Support

Corporate Cover's partners stands out for its personalised customer service and support. When you purchase your professional indemnity insurance through us, you gain access to dedicated specialists who understand the nuances of your industry. They are available to guide you through the insurance process, answer your questions, and assist you promptly in the event of a claim. This high level of service ensures a smoother, more reliable insurance experience, allowing you to focus more on running your business.

Find The Perfect Professional Indemnity Insurance Policy Today!