Professional Indemnity Insurance

A Professional Indemnity policy can cover you for financial loss, personal injury and property damage which results from a negligent act, error or omission while you are working for a client.

A policy covering financial loss, personal injury and property damage which results from a negligent act, error or omission.

A Professional Indemnity Insurance policy may cover you for areas such as libel and slander, professional neglect, malicious falsehood, passing off copyrights, breach of confidentiality, and negligent statements or actions. In business, mistakes are likely to happen. Errors can lead to a mountain of legal fees and compensation fees if someone such as a client suffers a financial loss.

Some professional organisations and regulators make Professional Indemnity Insurance compulsory for their members. If you give advice, design or offer services in a professional capacity, you can be seen as an expert by your clients.

Professional Indemnity Insurance costs may vary. Factors taken into consideration are business class, annual turnover, claims history and risks associated with each industry. There is no average Professional Indemnity Insurance cost, but our online premiums can start from £81.00.

The cost of Professional Indemnity Insurance will depend on various factors. The level of indemnity you choose, your class of business, whether you have had previous claims are just a few factors that will be taken into consideration.

Professional Indemnity Insurance costs can vary. Factors taken into consideration are business class, annual turnover, claims history and risks associated with each industry. There is no average Professional Indemnity cost, but our online monthly premiums can start from £7.56.

Think about the worst happening. What would you need to pay in compensation and legal fees? The larger the size of your clients, the higher the risk which means you will need to consider more cover.

It’s worth considering the best cover you can afford as the cost of different indemnity limits can be minimal. To provide an example, cover for £250,000 could cost £350.00, while £1,000,000 could cost £650.00. Paying £300.00 more could provide you with an extra £750,000 of cover.

Every business requirement is different. A Professional Indemnity policy needs to cover the legal costs and total rectification costs of your negligence. Check your contracts because there may well be a specified limit of cover required for you to undertake the contract. Check with any regulatory body as they may request that a specific amount of cover be held. Think about the worst case scenario and how much it would cost to put right.

Any professional giving advice or providing a service to their customers.

At Professional Insurance Agents we know that PI cover is essential for any business and that it will help to defend you against claims of loss of client data, documentation or negligence.

If you need any help with the completion of your application or advice on obtaining PI or Directors and Officers Liability Insurance, in the UK or abroad, please call telephone number +44 (0) 1323 648000 or e-mail us on info@professionalinsuranceagents.co.uk.