Why does an ACS member need Professional Indemnity Insurance?
An ACS Certified Professional is someone who has been judged by his or her peers as being a professional practitioner in ICT, that is in having a special skill, which can be relied upon by another. Consequently, the law requires that the professional exercises the required skill to an appropriate level expected by the client. Failure to provide the appropriate advice may result in financial loss or damage arising from a mistake or failure by the professional.
Professional Indemnity Insurance is a form of liability insurance. It indemnifies ICT Professionals for legal liability to their clients and others who rely on their professional advice.
Liability can arise out of a breach of contract, negligence or under legislation. Professional indemnity claims for ICT Professionals are usually made on the basis of economic loss as a result of advice provided.