Insurance
Professional Indemnity (PI) Premium Written
Underwriting a professional indemnity policy for an accounting or law firm.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable — PI | Asset (+) | 5,500.00 | - |
| Written Premium — Professional Indemnity | Revenue (+) | - | 5,500.00 |
💡 Accountant's Note
PI covers professionals against claims for negligence in their professional services. Claims are made-and-reported basis — the policy year when the claim is reported controls which policy responds.
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