Professional Indemnity Insurance

Giving Advice?

Professional Indemnity insurance provides cover for your business in the event that legal action is taken against you by a dissatisfied client, claiming to have suffered a loss as a result of advice you have given in a professional capacity.  

 

 

Does This Include Me?

Traditionally, Professional Indemnity Insurance for accountants, surveyors, engineers, solicitors and architects was considered most usual.  However, today's reliance upon services provided by others and the increased use of external consultants has meant that more businesses should consider this risk.

A 'professional' is now generally regarded as any person who offers 'specialist advice or service'. This definition can include IT Consultants, Insurance Brokers, Graphic/Interior Designers, Marketing Consultants, Management Consultants and Business Consultants.

Here are some of the things that could give rise to a claim against your business:

• Negligence or breach of duty of care
• Infringement of copyright and intellectual property rights
• Libel and slander
• Loss of or damage to documents or data belonging to your clients
• Dishonesty of your employees

The risks you are most likely to face depend on the nature of your business.

Even the most reputable companies can find themselves in a dispute with a client over a mistake.  Can you afford to take any chances with the business you have worked hard to build?

If you would like to discuss these risks and how you can get protection, send an email to the Cherrypicked Insurance broker of your choice.

To talk to an expert in your area and get a quote.