Professional indemnity insurance defends you against claims of negligence, breach of confidentiality, dishonesty, libel and slander. We offer up to £10,000,000 cover.
A quick-reference, all-you-need-to-know guide to the insurance you’re getting.Download PDF
The formal bit of the policy, detailing exactly what is and isn’t covered.Download PDF
If your clients are looking for someone to fill a gap in management, either they’re in a bit of a squeeze, or they have something big going on. Whichever it is, that doesn’t make your job any easier.
They’re relying on you to provide solutions and advice to keep their business running at full steam. Just one mistake on your part could have disastrous consequences.
In these situations, professional indemnity insurance can help by providing an expert solicitor to defend you from any allegations of negligence. It can even compensate your dissatisfied client if you are to blame.
No matter how careful and thorough you are, sometimes things just go wrong.
The advice you offer might not be quite right for your client’s business, or you might get a bit carried away when it comes to your assigned budget. Either way, if a mistake in your work costs your clients money, you may find them accusing you of professional negligence.
Allegations like this won’t disappear on their own, you have to take action. Professional indemnity insurance will pay an expert legal defence to help get you out of this sticky situation.
If there is a genuine shortcoming in your work, your PI insurance will cover any compensation your client may be demanding. That includes the cost of redoing the faulty work, plus any other losses.
Professional indemnity insurance protects your business. No one else’s.
So you have to decide what level of cover is enough for you. Consider what you do, who you do it for and how much it’s worth. Think about worst-case scenario and what could go wrong. What’s the most expensive mistake you could make (or be accused of making)?
Always bear in mind that you can’t have too much cover. Your legal defence can cost many tens of thousands of pounds - and that’s before the compensation bill from your client arrives. Your level of cover has to be enough to cover all of this.
It’s a tricky one to get right. Have a read of this guide or call us if you need more help.
Professional indemnity insurance covers negligence claims and allegations made against you by clients and third parties. That means things you’ve failed to do, or mistakes you’ve made, that have cost other people money.
Specifically (but depending on the policy wording):
But that’s not all. Some professional indemnity policies can fix a mistake before your client is even aware of it, thereby preventing a claim in the first place.
If you have any employees, employers’ liability insurance is a legal requirement. If an employee suffers an injury or illness as a result of working for your company, they can sue it for damages. Your insurance can cover their compensation, plus any legal fees.
If you visit clients, or they visit you, consider getting some public liability insurance. This covers you if someone is injured, or their property is damaged, and you’re to blame.
Office and property insurance covers the things in your office (furniture, plants, fixed IT equipment etc) and portable insurance covers gadgets and technical equipment away from the office (laptops, tablets, projectors etc). If you’re not sure it’s worth insuring, add it all up – it’s probably worth more than you think.
Business interruption insurance means you can still work when your office is out of action. Be it flood, fire or flea infestation, you’re covered for the costs of setting up elsewhere and for any lost revenue in that time.
If you’re a company boss, you can protect yourself with directors’ and officers’ insurance. Anyone can accuse you of not running your business with due care, and in the UK, company directors are personally liable for their actions. The good thing is this insurance covers your defence costs and any compensation you have to pay. So you can put away your chequebook.
Glad you asked.
The simple answer is: we know what we’re doing. Professional insurance is all we do so we know what you need, even if you don’t.
We also know that buying insurance can be, well, a bit of a pain. So we make sure getting yours is quick and hassle-free.
We do all that while treating you like a human being, too. You won’t find a call centre here. Or a phone menu. And we’ve banned nonsense insurance jargon.
Plus, every insurance-related question you can think of is answered in our School of Risk, and you’ll get our quarterly risk advice email – ‘The Waggle’ – to help you avoid problems in the first place.
If you’re after a second opinion, have a look at our customers’ feedback. They’re the ones you should really listen to.