Indemnity (PI)

Professional Indemnity insurance (PI) is designed to protect businesses and professionals who provide advice or services to clients. This type of insurance offers financial protection to the insured party in case a client alleges that they suffered a loss due to negligence, errors, or omissions made by the professional. It covers legal fees, compensation claims, and other expenses that may arise from defending or settling a claim.

Professional indemnity insurance is essential for individuals and businesses who provide professional services to clients. It offers financial protection in case of alleged negligence, errors, or omissions in the professional services provided by the policyholder.

Even the most skilled professionals can make mistakes, and if a client suffers financial loss or other consequences because of these mistakes, they may seek compensation.

Professional indemnity insurance covers the cost of defending legal claims made by clients and can also cover any damages awarded if the claim is successful. Without this insurance, professionals may be personally liable for the cost of defending themselves in court and any damages awarded.

Furthermore, many clients require proof of professional indemnity insurance before engaging a service provider, so not having it may limit opportunities for work.

Ultimately, professional indemnity insurance is a safeguard that helps professionals protect their livelihood and reputation.

Professional indemnity insurance is intended to protect professionals who offer advice, consultancy, or services against legal claims made by their clients that allege negligence, errors, or omissions in the provision of their work. Professionals who are in a position to benefit from professional indemnity cover include but are not limited to:

– Lawyers, advocates, and solicitors

– Accountants, bookkeepers, and tax advisers

– Architects, builders, and engineers

– Surveyors

– Doctors, nurses, and health professionals

– Consultants, trainers, and coaches

– IT professionals and software developers

– Financial advisers, brokers, and insurance agents

In essence, any professional who delivers advice, consultation, or service in exchange for a fee and/or holds a level of expertise that is expected by clients can benefit from professional indemnity insurance.

We can speak to you, develop a thorough understanding of you & your business to help to help determine the most suitable coverage for your specific business needs.

The appropriate amount of Professional Indemnity Insurance a business may need depends on various factors such as the size of the business, the nature of the services provided, the industry’s risk exposure, and the potential financial impact of a liability claim.

Generally, it is recommended that businesses carry a level of coverage that is sufficient to cover the worst-case scenario. As a starting point, businesses may consider the scale of their projects, the contract requirements, and the potential cost of legal defence in case of a claim.

Remember, having adequate coverage ensures your business is well-protected against unforeseen challenges and provides you with peace of mind as you focus on your professional endeavours.

Simply get in touch – Depending on the size and complexity of your business the information we require varies in every case.

Feel free to email or call and one of our commercial team will be on hand to assist.

Alternatively you can complete the contact form (with our contact information below). Here you can specify your requirements, a preferred time & contact type – we will receive this in the office and one our advisors will be in touch as requested.

meet our panel

A selection of the insurers available to us, allowing us to offer expert independent advice to meet your insurance needs. 

Give Us A Call​​

0115 931 2800

Our Door is open

Monday - Friday
9:00am - 5:15pm

Email Us

lets have a chat

provide your contact info below and one of our advisors will be in touch