Professional Indemnity Insurance

Any business or individual which provides professional expertise, gives advice to clients or is responsible for holding client data or intellectual property could find itself the subject of a potential breach of professional duty by a disgruntled client.  Even if you uphold and adhere to the highest impeccable standards, unfortunately mistakes can happen.  Conversely, you may not have committed any wrongful act but if a client feels they have suffered a loss or has a complaint against your business about your service, costs may be incurred in defending the claim.  A professional indemnity insurance policy will protect you against all these scenarios.

Alternatively, you may be required to hold a suitable professional indemnity policy either by your professional body (if you are an accountant, architect or surveyor for example) or because a client requires you to hold an appropriate professional indemnity insurance policy as part of your contract with them.

Either way, we have access to a number of specialist professional indemnity insurers accommodating a wide variety of risks, from “traditional” professions such as accountants, architects, engineers and surveyors, through to the continually growing industries of media, information and communication technology companies.

It is important to remember that professional indemnity insurance is arranged on a “claims made” basis which means it is the policy in force at the time a claim is made against you which will respond to the claim, not the policy that was in force at the time the alleged error or omission occurred.  As such, it is vitally important that appropriate cover is in place for as long as it is reasonably foreseeable that a claim could be made against you, even if this was for work carried out many years previously.