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Insurance for polish builders, hairdressers, constructors consultants, translators, accountants, engineers, IT, plumbers, carpenters.

What is Professional Indemnity Insurance?

Professional Indemnity Insurance provides essential financial protection for a wide range of professional advisers. In the event that a client suffers financial loss as a result of alleged neglect, error or omission. Professional Indemnity Insurance will meet the cost of defending claims and any damages payable.

Any person who gives advice, designs, or offers similar services in a professional capacity is seen by clients as an expert. In these times of high consumer awareness, clients will not hesitate to pursue a claim if they feel that they have received a sub-standard service. The need for Professional Indemnity Insurance has never been greater.

Any professional can produce substantial claims. Court awards have risen sharply in recent years. Without insurance, the financial security of a business is threatened.

Example cases

1. A business wished to be known by a particular trade name. After consulting with company registration agents, it was told that there was no objection to its chosen name. Proceedings were issued by a company with a similar name and £20,000 was paid by the registration agents.

2. Detailers prepared structural drawings for the erection of steelwork. It was subsequently alleged that the drawings contained errors and £110,000 was claimed for the costs of alteration and the resulting delays in construction.

3. An auctioneer sold property at auction over a number of years. It was alleged that the property was stolen and a claim for £250,000 was brought against the auctioneer.

At Professional Insurance Agents we know that PI cover is essential for any business and that it will help to defend you against claims of loss of client data, documentation or negligence.

A professional indemnity policy may cover you for areas such as libel and slander, professional neglect, malicious falsehood, passing off copyrights, breach of confidentiality, and negligent statement or actions. In business, mistakes are likely to happen. Errors can lead to a mountain of legal fees and compensation fees if someone such as a client suffers a financial loss.

If you need any help with the completion of your application or advice on obtaining PI or Directors and Officers Liability Insurance, in the UK or abroad, please call telephone number +44 (0) 1323 648000 or e-mail us on info@professionalinsuranceagents.co.uk.

We are really proud of the service we provide to you: We combine a traditional high-quality broking service, with an online Multiquote & Buy facility for a range of commercial insurances. This means that whether you have a complicated or overseas requirement, or you are a local SME, we will always provide the right level of service.

How much cover is required?

Individual professions can assess the amount of cover appropriate to their business. However, in many cases this is determined by an authorising professional body which lays down the criteria and covers required, often with minimum levels of indemnity and excesses. If in doubt you should check with your own authorising body, although as a professional indemnity insurance broker, Business Insurance 247 Ltd generally will be able to advise you of the different requirements required for your particular profession.

For others trying to determine how much cover to affect, it is important that a realistic view is taken of the potential damages and legal costs for which the business could become liable. Being under-insured can be almost as financially disastrous as being without insurance at all - as the examples to the left reveal.

Maximum cover limit

We recommend that no insurance policy is taken out with a limit of less than £250,000. We will, however, provide a quotation for lower levels of indemnity if asked to do so. We are also able to provide cover up to a limit of £20,000,000 in most cases.

Any professionals in doubt about the amount of cover they should take out, should consult us. If they are being asked to sign warranties or contracts involving insurance requirements, they should also consult their legal advisers.

Proposal forms for specific professions:

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