Professional indemnity insurance, also sometimes referred to as professional liability insurance, provides cover for legal costs and expenses incurred in your defence, as well as any damages or costs that may be awarded, if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money.
Note that alleged is highlighted above. You might not necessarily have done anything wrong but if someone alleges you have they can bring legal action against you. There will obviously be costs involved in proving innocence and defending you along with expert advice to help you through the situation.
Professional Indemnity Insurance provides cover up to the limit of indemnity against any claim (including claimant’s costs and expenses) in respect of civil liability arising out of the business due to:
You are likely to need professional indemnity insurance if:
For a bespoke insurance quote or for more information on the areas we cover, call us on:
Or send your enquiry, we will get in touch as soon as possible.