Professional Indemnity insurance

This type of insurance protects you if advice you give in a professional capacity causes a client financial loss, or if a claim is made against you for negligence, dishonesty, defamation, infringement of intellectual property rights, or loss of data. So, if your business or trade consists of giving advice, you could consider professional indemnity insurance.

If you provide advice and consultancy, handle people’s information, or provide an expert service, then you could consider investing in a professional indemnity insurance policy. 

This could include the below, or similar, professions: 

- Accountants (both ICA and Non-ICA) 

- Architects 

- Engineers 

- Computer consultants 

- Surveyors and Property Managers 

- RICS Surveyors 

Take a look at our professional indemnity insurance page for more information. 

If you have had continuous PI insurance in the years prior to taking out a policy with us, we can help to ensure you have Retroactive Cover in place. This can protect you against any claims that may be made against you for previously completed work, when insured by a different provider. (To keep your eligibility for Retroactive Cover, make sure you don’t let your professional indemnity insurance lapse). 

This depends on the risk profile and nature of your business, the total income of your business, the required limit of indemnity, and the level of excess you’d like in place – including any optional extras you decide to add to your policy. Get in touch with us to discuss your specific requirements.

If you think a client may make a claim against your business, tell your insurer and us as soon as possible as it could help to minimise legal costs and distress.  

This includes if you: 

- Receive a complaint from a client 

- Realise you have made an error and can’t easily resolve the problem 

- Receive a series of escalating complaints on a project 

- Notice a client withholds payment to you after a complaint 

- Become aware of a shortcoming in your work that you can’t put right easily 

It’s important to check the terms and conditions of your current professional indemnity policy for information on your notification requirements, as a late notification or failure to notify may invalidate your policy.