Any professional who gives advice, designs systems, or provides services for a fee should consider PI insurance. This includes: management consultants, accountants and auditors (SAICA members are often required to hold PI), architects and engineers (SACAP/ECSA), IT developers and firms, attorneys and mediators, financial advisors (FSCA registered), project managers, and healthcare practitioners.

Professional indemnity (PI) covers claims arising from professional advice, design or service errors — for example, a consultant gives bad advice that costs a client money. Public liability covers physical injury or property damage caused by your business operations — for example, a client trips and falls at your premises. Most professional service firms need both.

Cover limits depend on the size and risk level of your contracts. A freelance consultant may need R1–R5 million cover. Larger firms or those working on infrastructure or high-value projects may require R10M–R50M or more. Some clients and contracts specify minimum PI requirements — always check contract terms before applying for cover.