Professional indemnity insurance

Business Insurance That Works For You. Free Minute Quote Service. What is professional indemnity cover? What does indemnity mean for claims? Low premiums and expert advice.

Everything you need to know about professional indemnity insurance and our specialist service means you pay less.

It can cover legal fees and compensation payments, with the compensation often taking into account the financial loss that the client has suffered. Employers Liability covers other risks such as the risk that an. The advisor was correct. You will need PI insurance if you are looking to provide advice or consultation. It can cover compensation claims if a business is sued by a client for making a mistake that leads to financial loss.

While the cost of professional indemnity insurance for your business depends on the nature of work you do, you can get cover for up to £million for all the legal costs, including any damages and court fees awarded to the defendant. Hiscox professional indemnity quotes begin from £9. Get Your Quick and Easy Quotation Now From Specialist Insurers!

Compensation can vary significantly, based on the type of claim that’s awarded as well as the severity of the individual circumstance. Indemnity cover, or professional liability insurance , will prevent you from suffering a financial loss when defending or settling the claim. It covers claims made against you by clients who have lost money because of your work. You may be required to have professional indemnity insurance if you are part of a trade body or subject to industry regulation.

And the right policy can cover expensive claims that would otherwise cost your business thousands in legal fees. Keep your business safe and protected. Indemnity insurance can cover the costs involved with giving wrong, negligent or misleading advice. It also provides cover for loss of documents, loss of data, breach of intellectual property, and defamation and libel.

Indemnity is the legal principle upon which the notion of insurance rests. If you’re in the business of providing. Common professional indemnity claims are: Clients claiming compensation if there’s a mistake in the advice you’ve given. You could face claims if you accidentally disclose data or infringe on a client’s legal rights.

In case you make a mistake in designs, plans or calculations. Many clients will need you to have professional indemnity insurance in place before you can start working for them. When restrictions started to appear on professional indemnity insurance (PII) policies, they were, in the main, worded to only restrict cover with reference to the combustibility of cladding systems. Most insurance companies have their own exclusion wordings that they have tightened as time has passed. Just click the links to view, save or print these PDF documents.

Vital cover for your business.

You should consider taking out professional indemnity (PI) insurance if your business gives advice or offers a professional service to other businesses. It provides cover if you are negligent and make a mistake which causes a client to suffer financial loss. We are all familiar with the traditional professions such as Accountants, Surveyors, Engineers, Solicitors and Architects. Key cover includes breach of professional duty, infringement of copyright, breach of confidentiality, defamation and other types of civil liability with a limit of indemnity up to £00000.

UNISON’s position, in this situation, is that we would expect the organisation that you work for to agree to arrange professional indemnity cover on your behalf at their expense. A professional indemnity insurance certificate is a summary document that an insurance company may provide a policyholder on request which shows that adequate insurance has been taken out, without disclosing the confidential policy document This might be needed to presented to a client or trade body as evidence that the organisation in question is fully compliant with the relevant professional. Professional Indemnity Select is written on a full civil liability basis.

If in the course of your work of advising clients, you make a mistake or fail to do something that could cause financial loss to another person then you need this type of cover.