Professional Indemnity Insurance
If your business provides advice or consultancy
you have a responsibility to your clients and any breach
of that responsibility could lead to a claim against you,
causing serious damage to your business.
Professional Indemnity Insurance will protect
you against having to pay damages and legal costs should
a claim arise against you.
Who is a professional?
Anyone who gives to another person advice and/or services
of a skilful character according to an established discipline
might be regarded as a professional. That means persons
other than those in traditional professions, such as doctors
and lawyers, are now considered to be professionals- i.e.
computer consultants, advertising agents, acoustics consultants
and trade associations.
Why does a professional need a Professional Indemnity
A professional will hold himself or herself out as having
a special skill, which
can be relied upon by another. Consequently, the law requires
professional exercise the required skill to an appropriate
level expected by
that profession. Professionals are only human and mistakes
do happen. Any
financial loss arising from a mistake or failure by the
professional to exercise
the required level of skill, may mean that an award is
made in favour of a
person who suffers a loss, damage or injury. A professional
may also be held
to be liable for a mistake even though there was no negligence.
What protection will a Professional Indemnity policy
A Professional Indemnity policy aims to shield the professional’s
the event of a claim, therefore ensuring that he/she is
able to carry on their
business. Every policy on the market is different. We
will help you compare each policy.
What does a civil liability professional indemnity wording
A civil liability wording will indemnify the insured
for claims arising from
any civil award imposed by a civil court, as opposed to
criminal liability or penalties enforced by a criminal
court. A civil liability professional indemnity wording
is broader than a negligence wording, as it will indemnify
the insured for claims arising from strict liability,
where no negligence is involved.
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