Professional Indemnity Insurance
What is Professional Indemnity Insurance?
A Professional Indemnity Insurance policy is designed to cover you as an individual for any claims made against your work or professional advice. It can be used to protect you against a variety of different claims - for example, it could step in when a client claims negligence or defamation.
If you or your business provides advice or offers a professional service, you should consider this type of insurance policy. In this kind of environment, Professional Indemnity Insurance will pay compensation to correct a mistake or settle a claim, and it can also cover any potential legal defense costs you may incur.
This type of insurance policy can be tailored to suit a wide range of different professions and each policy from Alan & Thomas can be tailored to your exact requirements.
How does it work?
In these circumstances, Professional Indemnity Insurance can protect you from mistakes or errors that can happen from time to time. Even if you believe you are good at what you do and your work is always of a high quality, any business can be vulnerable to a claim from a client that remains dissatisfied with your work or advice.
Any policy of this type can give your business security against:
- Negligence in your work or advice
- Infringement of intellectual property rights
- Breach of confidence
- Defamation regarding a person or organisation
- Loss of documents of data
Why is it important?
The main reason to take out suitable Professional Indemnity Insurance is to protect you from expensive legal costs and compensation payments that can be associated with claims of negligence and breaches of confidence.
This type of insurance is suitable for any individuals that provide clients with professional advice or important pieces of work, such as accountants, solicitors, architects and financial advisors. Many types of businesses may also wish to consider this type of insurance policy such as advertising agencies, consultancies and public relations advisors.
For more information on Professional Indemnity Insurance, speak to our team today.
Asset Protection Insurance
An Asset Protection Insurance policy protects your business against the potential gap in cover between Professional Indemnity (PI) insurance and the total amount of a third party claim.
Revenue Protection Insurance
A Revenue Protection Insurance policy protects your business against any significant drop in income, generally as a result of the incapacity of a key person or building, regardless of whether you are a retailer, manufacturer or wholesaler. It can also offer protection to businesses offering specific professional services.
Legal Liability Protection
A Legal Liability Insurance policy protects your business from potential compensation claims that follow from negligence brought against you by employees, clients, customers or members of the public.
- Top 100 UK independent broker* with Chartered Insurance Broker status
- Free no obligation review and quotation
- Talk to a dedicated insurance expert to guide you through the process
- Bespoke levels of cover tailored to your individual requirements
- Competitive premiums underwritten by the UK's leading insurers
- Dedicated in-house claims team who will deal with any claim on your behalf
- Payment of premium by monthly instalment available (subject to status)
- Free access to online risk management services
* Top 100 Independent Brokers 2013 published by Insurance Age in association with Cornell Consulting
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