ProFESSIONAL INDEMNITY
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PROFESSIONAL INDEMNITY
Professional indemnity insurance (PI insurance), also known as professional liability insurance, safeguards professionals and businesses from financial losses caused by errors, omissions, or negligence in their work. Think of it as a safety net—it provides financial protection against legal claims, allowing your clients to focus on their expertise without the constant worry of potential mistakes or disputes.
With access to a wide range of insurance companies, we can recommend solutions that are specifically tailored for your clients’ activities, ensuring they are comprehensively covered.
cover includes
- Professional negligence and civil liability
- Defamation and libel
- Dishonesty of employees
- Loss of documents
- Unintentionally breach of copyright and/or confidentiality
- Loss of goods or money (your own or for which you are responsible)
TRADES
- Consultants
- Architects
- Engineers
- Surveyors
- Construction Professionals
- General Contractors
- Main Contractors
- IT professionals
- Designers
- Fire safety professionals
- Piling
- Geo-tech
- Cladding contractors and engineers
- Distressed Risks
Features & Benefits
- Expert knowledge
- Tailored policies to suit your clients
- Professional and experienced team
- Quick quote turnaround
- Extensive policy wording
- Access to both, Lloyd’s Syndicates and London Company Markets
How Much Professional Indemnity Insurance is needed?
Determining the right level of PI insurance depends on your client’s business circumstances. If they are securing coverage for a contract, your client may specify a minimum requirement. Similarly, industry regulations might dictate a certain limit, so it’s essential to check before finalising a policy.
If no set guidelines exist, consider the worst-case scenario: What would it cost to fix a mistake on a client project? Factor in legal fees, compensation costs, and any financial losses your client might incur due to the error.
Is Professional Indemnity Insurance a requirement?
Professions such as accountancy, engineering, and surveying often require it, while freelancers in fields like management consulting, business consulting, or IT contracting may need PI coverage to secure contracts.
Even if it’s not legally required, going without PI insurance can be risky. A single claim could result in substantial legal and compensation costs, potentially jeopardising your financial stability.
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