Professional Indemnity Insurance

Professional Indemnity Insurance

Paying to correct a mistake you’ve made or defending yourself when the quality of your work is questioned could put your company out of business. Professional Indemnity Insurance covers liabilities as a result of giving wrong advice or breaching a duty of care.

It is necessary protection for any business, large or small, that provides services, or professional advice to clients, such as architects, accountants, solicitors and consultants, or those in the maintenance and transport fields.

It is important to tailor Professional Indemnity Insurance to the requirements of your individual business, and this is where the experience of Marsh and Company is essential.

It can protect against compensation claims arising from:

  • The dishonesty of your employees, partners or directors
  • Unintentional intellectual property theft, or false attribution of authority
  • Misrepresentation or poor advice
  • Negligence (or breaches of duty of care), errors and omissions
  • Breaches of confidentiality
  • The loss of documents or data
  • Unknowing trademark or copyright infringements
  • Professional Indemnity Insurance covers the cost of defending these claims so you won’t be liable for any legal fees or, should you lose the case, the cost of putting things right or paying financial compensation

Professional Indemnity Insurance covers the cost of defending these claims so you won’t be liable for any legal fees or, should you lose the case, the cost of putting things right or paying financial compensation.

Who Needs Professional Indemnity Insurance?

Your business may require Professional Indemnity Insurance if:

  • It gives advice to clients
  • It handles confidential information
  • It uses copyrighted material or intellectual property belonging to others
  • A professional body insists that PI Insurance is compulsory
  • It provides a professional service
  • A client insists your business has it before they offer you work
  • If a claim or allegation is made against your business, Professional Indemnity Insurance covers the cost of your legal defence and any damages awarded you need to pay to put things right, up to the cover level you choose

Paying to correct a mistake you’ve made or defending yourself when the quality of your work is questioned could put your company out of business.

If a claim or allegation is made against your business, Professional Indemnity Insurance covers the cost of your legal defence and any damages awarded you need to pay to put things right, up to the cover level you choose.

Why you should consider it:

  • Covers legal expenses, damages and compensation
  • May be required for regulatory or contractual compliance
  • Provides financial protection for your business even in the event of an invalid claim
  • Minimises disruption to your business in the event of a claim against you
  • Enhances your business’s reputation as a professional firm
  • Gives peace of mind security

Policy features can include:

  • Flexible cover levels
  • Costs incurred for breach of professional duty, including legal expenses, compensation, damages and court attendance
    Dishonesty of employees
  • Breach of confidentiality
  • Unknowing copyright or trademark infringement
  • Unintentional intellectual property theft, or false attribution of authority
  • Defamation and loss of reputation
  • Bodily injury arising from breach of professional duty
  • Loss of documents
  • Cover for previous work

If you are looking for competitive, comprehensive Professional Indemnity Insurance. Get a quote today to see how much you could save!