Whether you run an accounting practice, an architecture firm, a management consultancy or a technology company, a single professional negligence claim can threaten everything you have built. MGG arranges specialist professional indemnity insurance for professionals across Hong Kong, with access to the Lloyd's market and a panel of 12+ specialist insurers.
Covers your legal liability and defence costs if a client alleges your advice, services or work caused them financial loss.
Protects against claims arising from mistakes, misstatements or oversights made in the course of your professional work.
Cover for unintentional disclosure of client information or breach of confidentiality obligations.
Covers liability arising from loss, damage or destruction of a third party's documents in your care.
Hong Kong's professional services market operates in an increasingly litigious environment. Regulatory enforcement has tightened across multiple sectors, and clients are more aware than ever of their right to pursue compensation when professional advice goes wrong. A claim does not need to succeed to cause damage. Defending an allegation of professional negligence costs money and time regardless of the outcome, and the reputational consequences can outlast the case itself.
Professional indemnity insurance, also known as professional liability insurance or errors and omissions insurance, is designed to meet those defence costs and any damages that follow. At MGG, we arrange PI cover for a wide range of professions in Hong Kong, from sole practitioners and freelancers to established firms with significant fee income. Our access to the Lloyd's market and specialist PI insurers means we can structure coverage that reflects the actual risk profile of your practice, not a generic off-the-shelf policy.
Why professionals in Hong Kong choose MGG:
Tailored cover limits matched to your fee income and contractual obligations
Access to 12+ specialist PI insurers including Lloyd's market capacity
Claims-made policy structures with proper retroactive date protection from day one
Annual reviews to ensure your coverage keeps pace with your practice
Professional indemnity insurance is relevant to any individual or firm that provides advice, designs or specialist services to clients for a fee. In Hong Kong, certain professions are required by law or by their professional body to hold PI cover. For others, it is not a legal requirement but is increasingly demanded by clients as a condition of contract award.
All Hong Kong solicitors and law firms must maintain cover under the Law Society's Professional Indemnity Scheme (PIS), operating on a claims-made basis. The minimum indemnity limit is HK$20 million per claim. Top-up cover above PIS limits is available through the open market.
The HKICPA requires corporate practices to hold PI insurance. The minimum cover is the higher of HK$5 million, 2.5 times gross fee income up to HK$15 million, or HK$3 million multiplied by the number of principals.
Construction professionals and design consultants face significant liability exposure on large projects. Many building contracts in Hong Kong require PI insurance as a condition of appointment, with specific limits set in the contract special conditions.
Under the Insurance Ordinance (Cap. 41), insurance intermediaries in Hong Kong are required to hold PI cover. The minimum indemnity limit is set by a formula determined by the Insurance Authority, effective from January 2024.
Consultants who provide strategic, operational or financial advice are exposed to claims if their recommendations lead to financial loss. PI is not mandated by law for most consultants, but is regularly required by corporate and institutional clients as a contractual condition.
Technology firms providing software development, system integration, IT consulting or managed services face claims exposure when systems fail or projects under-deliver. Financial services clients routinely require PI evidence before signing technology service agreements.
Property professionals advising on valuations, surveys or property management face liability if their assessments prove incorrect. The Real Estate Developers Association and individual contract terms often specify PI requirements.
Agencies providing marketing strategy, creative work or media planning can face claims relating to intellectual property infringement, defamation or the commercial failure of campaigns. PI cover protects against the costs of defending these allegations.
Medical practitioners, therapists and healthcare consultants face PI exposure through claims of professional negligence or malpractice. Individual practitioners and corporate practices should carry PI cover proportionate to the nature of their practice and patient volume.
While policy wording varies between insurers, a well-structured PI policy arranged by MGG will typically include cover for the following:
Covers your legal liability if a client alleges that your professional advice, services or work was negligent, erroneous or fell below the standard of care expected. Includes both defence costs and any damages awarded.
Covers claims arising from mistakes, oversights or omissions in professional work. Particularly relevant for accountants, engineers and technology firms where a missed detail can have significant financial consequences downstream.
Covers allegations of breach of professional duty of care, whether arising from common law obligations, contractual obligations or statutory duties, regardless of whether the breach was intentional or accidental.
Covers claims for libel or slander arising from words written, spoken or broadcast in the course of providing professional services, provided those words were not published with malicious intent.
Covers unintentional infringement of a third party's intellectual property rights, including copyright, trademarks and registered designs. Patents are excluded from most standard policy forms.
Covers liability for the loss, damage, distortion or destruction of a third party's documents in your care. Particularly relevant for solicitors, accountants and financial advisors.
Covers claims arising from the unintentional disclosure of confidential client information, including personal data. As Hong Kong's data privacy requirements continue to develop, this is an increasingly important coverage element.
Covers reasonable legal fees and expenses incurred in investigating, defending or settling a claim, including the costs of representation at regulatory hearings or disciplinary enquiries.
Covers the policyholder (who is not the actual perpetrator) for loss arising from fraud or dishonest conduct of an employee acting in the course of their professional duties.
Most professional indemnity policies in Hong Kong operate on a claims-made basis. This means it is the policy in force at the time a claim is made that responds, not the policy that was in force when the work was carried out. This is fundamentally different from public liability insurance, which operates on an occurrence basis.
The retroactive date is the date from which your insurer will cover claims arising from past work. If you have held PI insurance continuously since you began practising, your retroactive date will typically track back to that first policy inception date. This means your current policy protects you against claims relating to work you carried out years ago, provided you have maintained uninterrupted cover.
Allowing your policy to lapse, even briefly, can create a serious gap in protection. If a claim arises from work done before the lapse, and you later reinstate cover with a new inception date as the retroactive date, that historical work will be uninsured. This is one of the most common and most costly mistakes professionals make with PI insurance in Hong Kong.
We start by understanding your profession, the nature of your work, your fee income, your client base and any contractual coverage requirements imposed on you. For regulated professions, we also confirm your statutory minimum requirements and whether top-up cover is needed.
Using our Lloyd's market access and panel of specialist PI insurers, we identify the right policy wording, limit and retroactive date for your practice. We pay particular attention to policy exclusions and excess structures, since these are where significant differences between insurers lie.
We present your options plainly, without jargon. You will know exactly what each policy covers, what it excludes and what your excess means in practice. For most standard PI enquiries, we deliver quotes within 24 hours.
Your practice will evolve. Revenue grows, you take on new service lines, you win bigger clients. We conduct annual reviews to ensure your PI limits and retroactive date protection remain appropriate, and we handle mid-term adjustments when your circumstances change.
Get fast, tailored business insurance with expert advice you can trust. Request a free quote or speak directly with our team today.
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At M.G. Geraghty, we combine decades of expertise with a personal approach to insurance broking. Whether you need cover for your business, your family, or something truly specialist — we find the right solution at the right price.
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Read MoreWhether you need mandatory cover for a regulated profession, cover to satisfy a client contract, or comprehensive PI protection as your practice grows, we will build the right policy around your actual exposure.
Specialist insurance brokers providing expert cover for individuals, families and businesses in Hong Kong and across Asia since 1990. Lloyd's Coverholder. Member of the Hong Kong Confederation of Insurance Brokers (No. 00169).
