Professional Indemnity Insurance
Professional Indemnity Insurance (PI) is designed to protect businesses and professionals who provide advice, consultancy or services to clients
PROFESSIONAL INDEMNITY INSURANCE
Professional Indemnity Insurance (PI) is designed to protect businesses and professionals who provide advice, consultancy or services to clients. It offers financial protection against claims arising from negligence, error, omissions or breaches of professional duty that result in a client suffering a loss.
The following sectors would benefit from this type of insurance:-
- Accountants and auditors
- Architects and engineers
- Consultants and business advisers
- Financial and insurance professionals
- IT contractors and software developers
- Marketing and media agencies
At IPS we help businesses of all sizes secure PI Insurance that fits their industry, risk profile and regulatory requirements. We will ensure you are covered with the right level of protection.
Key Features of Professional Indemnity (subject to quotation/terms & conditions):-
Legal Costs
If a client sues you, even if the claim is false, you may still need legal support.
Compensation payments
If you are found legally responsible for a mistake or loss, your policy can cover the cost of compensation you are required to pay to the client.
Mistakes or Negligence in your work
If your advice, design, report or professional service contains an error that causes a client financial harm, PI Insurance can help cover the costs.
Breach of confidentiality
If you unintentionally use someone else’s content, image, logo or design in your work without permission, you could be sued for copyright or trademark infringement. Your insurance can help cover those claims.
Defamation
If something you write, publish or say during your work accidentally damages someone’s reputation, this could lead to a defamation claim.