Professional indemnity insurance

Does your profession involve offering services or advice to others? If yes, then you might want to get professional indemnity insurance.

What is professional indemnity insurance?

Professional Indemnity Insurance is a type of liability insurance that provides cover for the financial consequences of neglect, error or omission by the professional or firm taking out the policy. If a third party makes a claim against any wrong-doing, mistake or breach of professional duty on your part, then this type of insurance will protect the assets and reputation of your business.

Who is covered under a professional indemnity policy?

Professional indemnity insurance is designed to cover not just your business, but also for employees or a related entity acting within the scope of their professional duties.

Why do you need professional indemnity insurance?

Protecting yourself against any claim could prove to be expensive and time consuming not to mention the damage caused to your reputation and business. If things do not work in your favour, you could be held accountable for not just your actions but also for those employees under your supervision. A professional indemnity policy can protect both you and the business through cover from such claims, including the costs for defending such claims. You will have cover for the legal expenses and compensation associated with a claim, should you be found responsible for any damages. This kind of insurance will give you the much-needed peace of mind and confidence to conduct your business.

Quick Snapshot:

Professional Indemnity

Cover for financial loss caused in connection with your professional activities.

Public Liability

Protects you against liability for damages caused by accidents, such as a slip or a fall.

Products Liability

Protects you against liability for damages caused by goods sold or supplied by you.