Professional Indemnity Insurance, what's the point?

[swamp]

It's insurance. You don't expect to have to use it but if the s*it comes your way then your bloody glad that you have it.
The same principle as house insurance. When the gas leak goes pop then it's a small price to pay for peace of mind.

Insurance is for situations where you cannot afford the price of failure. House insurance is a good idea, as is car insurance (regardless of it being mandatory). Mobile phone insurance isn't, nor is payment protection insurance or enhanced product guarantees.

PI insurance is different because you have to continue paying for many years after the contract has finished. A one year contract could cost £3000 in insurance charges in full. A very bad deal it seems.

[Fred Bloggs]

what about its relevance as a defence against IR35

It's a minor positive pointer since employees do not have it nor do they pay for it.

[scooterscot]

It's when you cannot get PI or your previous insurer turns you down you should really start to worry.

Had to go through a Lloyds syndicate to get cover.

[Moscow Mule]

I know of a chap - who was a permie at the time - who managed to send an entire day's worth of SWIFT messages again with some careless SQL.

It's when you cannot get PI or your previous insurer turns you down you should really start to worry.

Had to go through a Lloyds syndicate to get cover.

Brian?