Indemnity insurance is a type of coverage designed to protect individuals and businesses from financial losses resulting from claims of negligence, errors, or omissions. It is commonly used by professionals such as doctors, lawyers, consultants, and businesses that provide specialized services. This insurance covers legal fees, settlements, and compensation costs, ensuring financial stability in case of lawsuits. There are various types of indemnity insurance, including professional indemnity, medical indemnity, and product liability insurance, each catering to different risks. Many policies offer worldwide coverage, providing protection even for international services. In some industries, indemnity insurance is a legal requirement to ensure compliance with regulations. It offers peace of mind by allowing professionals and businesses to operate confidently, knowing they are protected against unforeseen liabilities. Additionally, policies can be customized to suit specific industry risks, ensuring tailored financial security.