If your business offers a service or advice, you should consider professional indemnity insurance as it responds to allegations your business has made an error or omission in the provision of its professional services. The policy covers the costs of legal defence as well as damages in any settlement.

What is Professional Indemnity Insurance?

Professional indemnity insurance protects your business from claims made by clients for financial loss caused by negligent advice, errors, or omissions in your professional work.

Why do you need it?

• Financial protection: Covers the cost of legal fees, compensation, and other expenses arising from a claim.
• Reputation management: Helps protect your business reputation in case of a claim.
• Peace of mind: Knowing you’re protected can help you focus on your business.

What does it cover?

• Claims for negligence: Protects against claims arising from errors or mistakes in your professional work. Some policies will offer wider ‘civil liability’ cover, but you’ll need to read the small print!
• Legal costs: Covers the cost of defending yourself against a claim. Some policies pay the defence costs as part of the limit of indemnity provided, whilst others pay defence costs in addition to the limit of indemnity – it depends on your industry and the insurer.

What types of business require professional indemnity insurance?

Solicitors, Accountants, Architects, Surveyors, Financial Advisers, Insurance Brokers and some healthcare professionals are often required to have this type of cover in place by their regulatory body.

Most marketing and advertising agencies, IT service providers and property professionals such as property managers and estate agents typically also hold professional indemnity insurance.

Construction professionals undertaking design roles or entering into Design and Construct Contracts will also hold specialist design and construct professional indemnity cover.

Why choose us?

• Expert advice: Our team understands the specific risks faced by your industry.
• Tailored cover: We create policies to meet your unique business needs.
• Competitive pricing: We offer competitive rates without compromising on cover.
• Excellent service: Our dedicated team is always on hand to help.

Don’t leave your business unprotected. Contact us today for a free quote.