PII meaning in Business ?

Answer: What is Professional Indemnity Insurance mean?

Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.

Coverage sometimes provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice.

reference

Full Form	Category
Pork Industry Institute, Texas Tech University	Academic & Science
Pacific Invasives Initiative	Associations & Organizations
Pharmaceutics International Inc	Business
Professional Indemnity Insurance	Business
Polaris Industries	Business
Polaris Industries, Inc.	Business
Professional Innovations, Inc.	Business
Pipeline Integrity International	Business
People International, Inc.	Business
Publisher Item Identifier	Business
Ping If Interested	Community
Printing Industry of Illinois/Indiana	Community
Pork Industry Institute	Community
Publishers Item Identifier	Community
Pentium 2	Computing
Pentium II processor	Computing
Program Image Inspector	Computing
Pentium II microprocessor	Computing
Permanent Interface Identifier	Computing
Program Integrated Information	General
Permanency Innovation Initiative	General
Personally Identifying Information	General
Princeton in Ishikawa	General
Permanency Innovations Initiative	General
Privacy Identity Innovation	General
Plug It In	General
Professional Investigators International	General
Personal Identity Information	General
Pasteur Institute of India	Governmental
Pershing II	Governmental
Personally Identifiable Information	Governmental
Public Interest Immunity	Governmental
Procurement Instrument Identification	Governmental
Pre-Incident Indicators	Governmental
Peace Islands Institute	Governmental
Phillip Field, Fairbanks, Alaska	Regional