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, negligent or misleading 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 etc.
It is important to tailor Professional Indemnity Insurance to the requirements of your individual business.
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.