It’s essential for businesses to protect themselves against claims of professional negligence with the correct level of professional indemnity insurance (PI insurance).
What is professional indemnity insurance?
This type of liability insurance is designed to safeguard businesses that offer professional advice and services against claims of wrongdoing in carrying out their duties. There are several forms of professionals’ insurance.
A negligent act, error or omission
This type of PI insurance indemnifies the policyholder against loss incurred as a result of a negligent act, error or omission in carrying out their business. It is the narrowest form of professional insurance cover.
Breach of duty
A typical PI insurance policy will provide indemnity to the insured against loss arising from a claim for breach of duty which may be made because of any neglect, error or omissions committed in the conduct of the insured’s professional business.
Talk to the professional in PI insurance
When arranging professional liability insurance, it’s important to understand the exact details of your policy. With the help of the experienced team at Advance Insurance Services, you can enjoy a specially negotiated premium from a specialist insurer, and benefit from wide policy wording, so you have the peace of mind that you have the correct level of indemnity insurance in place.
Key features a professional indemnity insurance policy arranged by Advance Insurance Services:
- Claims made against you for negligence, errors or omissions that cause financial loss to your clients
- Payments of damages awarded
- Payments of legal costs incurred
- Loss of documents
- Libel and Slander
- Dishonesty of employees
- Unintentional breach of confidentiality
Who needs PI insurance?
The following professionals should consider taking out a liability insurance policy from a professional insurance broker:
- Accountants, bookkeepers and auditors
- Advertising agencies, copywriters, illustrators, public relations consultants
- Architect, web site designer, telecommunications consultants
- Estate and letting agents
- Building contractors, electrical contractors, surveyors
- Motor traders
- Computer software developers, computer programmer
For a liability insurance quote, call us today on 020 8805 3938 or complete the online professional liability insurance quote form and we’ll be in touch.