Specialist professional indemnity insurance

Protecting your home against: Faulty boilers. Plumbing and drainage issues. Professional Indemnity Insurance - From Just £a Month. What is professional indemnity cover?

What does indemnity mean for claims? It can cover legal fees and compensation payments, with the compensation often taking into account the financial loss that the client has suffered.

You are able to provide services of the type you indicate without professional indemnity insurance. Loft Conversion specialist do plans all the time without such insurance. If the property is defective (or falls down) as a result of a. Depends on the size and type of business and where situated.

A shop insurance policy (which covers liability) will cost from a few hundred pounds in a low risk area to several thousand depending on stock and location. A liability policy for. MPR offers Specialist PI insurance to organisations to protect against damages and defence costs arising from their professional services. The PI insurance policy addresses the spectrum of risks and dangers that organisations face when carrying out their business activities.

Due to the specific nature of professional indemnity insurance , it is not always included in general business insurance policies.

Indemnity insurance can cover the costs involved with giving wrong, negligent or misleading advice. The costs are significant and the time expended on various forms can make it a harrowing experience. Firms often complete the proposal form, send it off and wait for the terms, wondering if the costs have risen or if they will struggle to find cover. This is often the case for industry bodies too, so check before arranging cover. The policy, endorsed by the Association, has been designed to meet the needs of the SMSF professional.

It could be that you have accidentally shared confidential data. In fact, many only purchase the cover for contractual reasons, where in order to secure a particular contract, they must show proof of insurance. However, there is much more to achieving a good PI policy than just ticking a box. When you take action on their behalf, you risk being sued. Defence is vital when allegations are unfounded – your future prosperity depends on it.

Pick your core covers, from public liability insurance for injury and property damage, to employers’ liability insurance for your staff. And there are options for different risks, like professional indemnity insurance, or protection for your business equipment. As claims for professional negligence against firms and individuals continue to rise, so too does the need to ensure you have the widest and most comprehensive professional insurance cover available – cover that not only protects your business, but your reputation.

As one of the UK’s largest independently owned brokers we use our enormous buying power to give you access to a panel of leading insurers including exclusive facilities and direct access to Lloyds of London This keeps the quality of your cover high and your premiums competitive. And those mistakes and errors may result in the client suffering loss or damage. Cover is written on a claims-made basis but can include negligence, defamation, breach of confidence and infringement of intellectual property rights.

Low premiums and expert advice. Everything you need to know about professional indemnity insurance and our specialist service means you pay less.

If you work in certain professions, regulatory bodies might require that your business has professional indemnity insurance , however, it isn’t strictly a legal requirement. If you’re a doctor or nurse for the NHS, your practice should provide you with professional indemnity insurance – however, it’s best to check this is the case. This cover is mandatory for many architectural professions, and insurance is available with limits ranging from £100to £5m. The world’s leading professional indemnity insurer for transport professionals. The role you perform is often complex, always critical and invariably subject to a high degree of exposure and responsibility if things go wrong.

So, you need to make sure your professional indemnity insurance is right.