If you are alleged to have provided inadequate advice, services or designs to a client, professional indemnity insurance provides cover for the legal costs and expenses in defending the claim, as well as compensation payable to your client to rectify the mistake
Regardless of how many years of experience your firm may have, there is always the possibility you (or one of your team) could make a mistake.
Coverage:
Professional negligence (i.e. making a mistake in a piece of work for a client)
Loss of documents or data
Unintentional breach of copyright and/or confidentiality
Defamation and libel
Loss of goods or money (your own or for which you are responsible)