Explainer
Professional Indemnity Insurance in South Africa (2026)
What professional indemnity covers, why claims-made wording matters when you switch or retire, the one published price range, and three places to buy it.
If you sell what you know, a mistake does not break anything. It costs your client money, and they can claim that money back from you. A bookkeeper who misses a filing deadline, an engineer whose specification is wrong, an IT contractor whose migration loses a client's data: none of these hurts a person or damages property, so public liability will not pay.
That is the gap professional indemnity fills. To keep it practical, I use three South African insurers as the examples all the way through: Bi-me, Miway and Santam. Between them they cover the three ways a small practice can buy PI, online, by phone or through a broker, so by the time you reach each one below you will already know where it fits. Before the price, though, it helps to understand the claims-made clause, which decides whether you are still covered after you switch insurer, stop paying or retire.
What professional indemnity covers
Professional indemnity covers claims that you were negligent in the advice or service you provide, and the legal costs of defending them. Bi-me describes the kinds of claims it answers as failures in design or specification, negligent project management, incorrect professional advice, breaches of confidentiality, failed background checks, and even a broker failing to place a client's cover properly.
Many policies add more than the core claim. Bi-me lists defamation, loss of documents, the cost of recovering unpaid fees, liability for an employee's dishonesty, claims about subcontracted work and the cost of appearing before a regulatory body among the extras included with PI on its platform. Miway's Professional Liability lists financial loss claims, subcontracted duties, loss of documents limited to 5% of the limit, defamation and fee recovery. Limits on those extras vary, so read the schedule rather than the brochure.
Who it is for: any business that sells knowledge or skills, gives audit or advisory services, or provides designs, reports, specifications or supervision. Bi-me's examples are consultants, engineers, architects, accountants, legal practitioners, assessors and IT professionals. Miway names accountants, architects and estate agents, and Santam writes its cover by occupation through a broker, which is the route to look at if your profession is on neither list. Some professions also have a regulator or professional body that sets a minimum amount of cover, which is the first number to work from in how much cover to buy.
Claims-made cover: what it means when you switch, pause or retire
Bi-me states plainly that its PI is written on a Claims-madeA way of writing a liability policy so that it pays claims made and reported while the policy is in force, whenever the work behind the claim was done. Professional indemnity is usually written this way, which is why a gap in cover or a cancelled policy matters.In this guideBi-me says its PI is written this way. A client who claims in 2027 about advice you gave in 2024 is paid by the policy you hold in 2027, so the policy you had in 2024 does not help once it has ended. basis. The policy covers claims made and reported while you hold it, and not once you stop paying, even if the mistake happened while you were covered. That has three practical results.
When you switch insurer
A claim about work you did years ago is paid by whichever policy is in force when the claim is made. Make sure the new policy's Retroactive dateThe earliest date of work a claims-made policy will cover. Work done before that date is excluded, even when the claim about it arrives while the policy is in force.When you switch insurerYou were first insured in March 2022 and move to a new insurer in 2026. If the new policy's retroactive date is 2026, a claim about work you did in 2023 is not covered. A retroactive date of March 2022 keeps that work covered. reaches back to when your cover started, or earlier work is uninsured.
When you leave a gap
Bi-me warns against allowing a gap between policies, even a short one. A claim made during the gap has no policy to respond to it.
When you close or retire
Clients can claim long after the work is done. Bi-me excludes claims after cover ends where no Run-off coverCover that keeps a claims-made policy answering claims about past work after you stop trading, retire or close the business, when no ordinary policy is in force any more.When you retireYou retire in 2026 and cancel your policy. In 2028 a former client claims about a 2025 project. Without run-off cover, Bi-me's wording excludes that claim, because no policy is in force when it is made. exists, so arrange it before you cancel for the last time.
When a quote arrives, find these three in the wording before you accept it: whether it is claims-made, the retroactive date, and whether run-off cover is available.
What it usually leaves out
Again, Bi-me's exclusions list is the clearest I found. If a client has already complained, or you know something went wrong, and you do not say so when you apply, a later claim about it is excluded.
The others are what you would expect. Deliberate, dishonest or criminal conduct is excluded, and so is work outside the professional activities you declared, which matters if your business has grown into new services since you last updated the insurer. Work before the retroactive date is excluded, as are contractual promises beyond your ordinary legal liability, uninsurable fines, and certain excluded territories. Injury and property damage are left to your public liability policy, which is why many professionals need both.
What it costs
Of the three, only Bi-me publishes a professional indemnity price, and it also publishes an average.
Bi-me names four things that move the premium: your past claims, your occupation, the amount of cover and your annual revenue. An accountant and an engineer with the same turnover will not pay the same, because the size of a likely claim differs. Miway and Santam quote PI individually, and Miway sets the deductible by the limit you choose. For every published business insurance price in one place, see the cost guide.
Three ways to buy it
These are the three insurers I have used as examples throughout, ordered by how quickly you can see a price and buy, not by which cover is better, because that depends on your wording and your profession.
If your profession is not named above, or you would rather not read all three, answer the three questions below and they will point you to the cover and the way of buying that fit your practice. Each route is explained in full straight after.
Not sure which route is yours?
Three quick questions point you to your route
Answer for your own practice. This points to a type of cover and a way of buying it, and names who sells it that way.
1What is the likeliest claim against you?
2How big is the work you take on?
3What else do you need to insure?
Before you answer
Professional indemnity, bought online, for most small practices
It covers the claim your work cost a client money, and an online quote is the quickest way to see a price.
The trade-off: an online policy comes without advice on your profession's specific wording.
This points to a type of cover from how you answer, and names who sells it that way, from each insurer's own site on 24 September 2026. It is general information, not advice: read the policy wording, or speak to a licensed broker, before you buy.
1. Bi-me - online, with a published price
Bi-me sells professional indemnity online, underwritten by iTOO, from R448 a month. It is the only route here where you can see a number before anyone calls you, and its page explains the claims-made basis more plainly than any other I read.
1Published price range
Bi-me Professional Indemnity
Why it's first
Bi-me publishes a starting price and an average premium for PI, and sells it online.
- Average premiumR448 to R870 a month (Bi-me's analysis)
- BasisClaims-made
- UnderwriteriTOO
- LicenceFSP 51534
- Sells toconsultants and professionals who want a price before a call
- Check in your quotethe retroactive date, and whether run-off cover is available
you'll go to bi-me.co.za
Best for: a sole practitioner or small firm that wants to see a price, buy the same day and send a client proof of cover.
2. Miway Professional Liability - extras listed up front
Miway lists what its Professional Liability includes on the product page itself: claims for financial loss, subcontracted duties, lost documents up to 5% of the limit, defamation and fee recovery. It names accountants, architects and estate agents as the professionals it has in mind. You leave your number and a consultant quotes by phone.
2Extras on the page
Miway Professional Liability
Why it's on this list
Miway publishes what its PI includes, including the 5% limit on lost documents.
- IncludesFinancial loss, subcontracted duties, defamation, fee recovery
- Lost documentsUp to 5% of the limit
- DeductibleSet by the limit you choose
- LicenceFSP 33970
- Sells toprofessional firms that also want property or vehicle cover
- Check in your quotewhether the wording is claims-made, and the retroactive date
you'll go to www.miway.co.za
Best for: a practice that wants PI on the same policy as its office contents and vehicles, and prefers to explain its work to a person.
3. Santam - occupation-specific PI through an intermediary
Santam offers niche professional indemnity based on occupation, arranged through an intermediary and added to its business liability cover. It publishes no product detail or price on its business pages, so this is the route for a firm that wants a broker to place cover written for its specific profession.
3Written by occupation
Santam Professional Indemnity
Why it's on this list
Santam underwrites professional indemnity by occupation and places it through intermediaries.
- BasisNiche PI based on occupation
- How you buyThrough an intermediary
- Combines withSantam business and liability cover
- LicenceFSP 3416
- Sells tofirms whose profession needs specialist wording
- Check in your quotethe retroactive date and run-off terms
you'll go to www.santam.co.za
Best for: an established firm with larger contracts, a professional body with minimum cover rules, or a history of claims, where a broker's placement is worth more than a quick quote.
How much cover to buy
Start with anything that sets a minimum for you: a client contract, a tender, or your professional body. Above that, Bi-me suggests weighing the value of your projects or services and the cost of the worst realistic mistake. A claim is usually sized by the client's loss, not by your fee, so a R20 000 consulting job that informs a R2 million decision carries a R2 million risk.
Review the limit as the business grows. Bi-me's own warning is that under-insuring can bankrupt a business if a large claim lands, and a limit bought when you had three clients will rarely suit you at thirty.
The bottom line
Buy professional indemnity for the day a client says your work cost them money, and keep it in force. The wording matters more than the premium: confirm the claims-made basis, the retroactive date and run-off before you switch, pause or retire.
Bringing the three examples together: if you want to see a price today, Bi-me is where to start, because it is the only one of the three that shows a price, from R448 a month, and it sells the policy online. If your practice also needs its office contents and vehicles insured, Miway is the route built for that, because it sells professional liability as part of its business cover and quotes you by phone. And if your profession needs wording written for it, or a professional body sets the rules, Santam's occupation-based cover, placed by a broker, is the one built for exactly that.
If you skipped ahead, the three questions at the start of the list point you to the cover and the way of buying that fit your practice.
Questions people actually ask
How much does professional indemnity insurance cost in South Africa?
Bi-me publishes professional indemnity from R448 a month and says small-business premiums have averaged R448 to R870 a month, by its own historical analysis, on 17 September 2026.Your occupation, cover amount, annual revenue and past claims move the price. Miway and Santam quote individually.
What does claims-made mean on a professional indemnity policy?
A claims-made policy pays claims that are made and reported while the policy is in force.If you stop paying, a later claim about earlier work is not covered unless run-off cover applies, and a new policy covers earlier work only back to its retroactive date.
Who needs professional indemnity insurance in South Africa?
Anyone who sells advice, skills, designs, reports or supervision: consultants, engineers, architects, accountants, legal practitioners, assessors and IT professionals are common examples.Clients, tenders and some professional bodies also require it.
Does professional indemnity cover injury or property damage?
Not usually.Bodily injury and property damage are generally excluded and left to public liability insurance, which is why many professionals who see clients or work on site hold both.
What is run-off cover?
Run-off cover keeps a claims-made professional indemnity policy responding to claims about past work after you stop trading or retire.Without it, Bi-me's wording excludes claims made after cover has ended.
Can I buy professional indemnity insurance online?
Yes. Bi-me sells professional indemnity online, underwritten by iTOO, on 17 September 2026.Miway quotes by phone after a call-back request, and Santam places occupation-specific PI through intermediaries.
