Professional Indemnity Insurance
Professional indemnity insurance protects your legal liability in the event a third party claims against you for financial loss occurring as a result of your error, neglect or omission.
If you are a professional or consultant providing a service to other businesses, it is important you have the correct level of insurance in place, helping to protect your business and your professional reputation against all insurable risks.
You may be involved selling your skills or knowledge to other businesses, providing advice, handling data belonging to a client or taking responsibility for a client’s intellectual property. Although you may feel confident in the quality of your work, any small business is unfortunately all too vulnerable to a claim of negligence if your advice or services don’t meet your client’s expectation and they incur financial loss as a result.
Professional indemnity insurance, also known as PI insurance, will help to protect you if a claim is brought against you by a client who has incurred financial loss due to a problem with work you have done for them. This could be down to error, neglect or omission.
Typically, this type of insurance is taken out by professionals such as architects, accountants, IT consultants, journalists, business consultants, engineers and construction consultants.
We are highly experienced in arranging professional indemnity insurance for all types of professions and can advise on the level of cover you need to have in place, depending on the nature of your business. We can explain what your legal liabilities are, the types of risk you face and how to mitigate those risks through insurance cover.
With access to many of the leading insurers, we can arrange an industry-specific policy, designed to protect you against the specific risks faced in your profession, with varying levels of indemnity cover available.
Even if you retire or close your business, we would always advise that you keep professional indemnity insurance in place, as your liability for the services you have supplied carry on for some time, and there may well be a delay before a claim is brought against you.
We offer an individual, personal service and will be happy to provide an assessment of your insurance requirements. Call us on 01273 765725 or click on the right to send an email.