Professional Indemnity Insurance
Professional Indemnity Insurance covers the costs you are required to pay if you’re found to have provided bad advice, or failed to give key advice, or made an unintentional design mistake which has resulted in your customer or others losing money.
Professional Indemnity Insurance is a very important type of Business Insurance for businesses that provide advice or consult, provide an expert service such as design/plan work or handle client data. Although it isn’t a requirement by law that businesses have Professional Indemnity Insurance, some professional bodies/regulators require their members to hold some level of professional indemnity insurance. This applies to solicitors, accountants, architects, chartered surveyors, financial advisers and some healthcare professionals.
With the ever-growing market, it is now possible to add additional covers onto your Professional Indemnity Insurance making it a ‘Professional Combined Insurance’ policy. Such additional covers are Buildings/Contents, Public and Employers Liability, Business Equipment, Directors & Officers and more. This would mean all your insurance products under one policy – making it simple for you to keep track.
As an independent insurance broker, we have a wide range of UK insurers who can provide Professional Indemnity Insurance. Due to the nature of Professional Indemnity Insurance it can be quite time consuming however our highly trained and professional brokers will help you along with this to obtain the most comprehensive quotation that suits you and your business.