A professional indemnity insurance policy will cover your business in the event you are negligent or cause a situation whereby your clients business suffers financially.
This type of insurance will also cover you against issues pertaining to copyright, trademark, broadcasting rights and should also take care of the ensuing legal expenses.
Most UK businesses need a professional indemnity insurance policy to run legally and ethically. Professional consultants, medical professionals and legal representatives are certainly required to have an adequate professional indemnity plan in place. However, those in information technology, accountancy or consultancy positions and a whole host of other business niches require this type of cover too.
This type of insurance is broken down into three categories. The first of which will protect your business against proceedings brought about by negligence or errors caused by your company or it’s employees. This type of cover is the most basic policy available. The second type of insurance cover protects the business from any losses incurred as a result of a breach of duty. Lastly, the third type of coverage protects the professional indemnity insurance policyholder against any future civil liabilities.
We can our Professional Indemnity Insurance cover?
- Employee Dishonesty
- Loss of Professional Documents/Data
- Intellectual Property
The coverage provided by your policy will be governed by the size of your business and also the type of service you provide. When arranging your policy you should take into consideration the value of the service you are providing and also the potential financial shortcomings your client may experience should things not go as planned.
More often than not, the client will specify you have a minimum amount of professional indemnity insurance in place before they begin to work with you. Most UK government related businesses will only work with you if you have a professional indemnity insurance policy with cover that is a minimum of £5million.
If you’re looking for professional indemnity cover, get in touch with our experts today. We are here to answer all your questions and find you the right policy for the right price. Call us on 0121 293 6764 or complete our quote form and we will be in touch with you shortly.