Q: What is professional indemnity?
Professional indemnity insurance protects your business against claims made by dissatisfied clients. It will cover your business for the cost of defending any allegations or claims for negligence or breech of duty or care for products or services it has provided. The level of cover you choose can be used to either pay damages awarded against you, cover defence costs (or both) and can in some circumstances be used to ‘fix’ a problem if it will avoid a larger claim being made.
We provide tailored protection with industry specific cover. For example IT consultants are at a greater risk of breaching contracts with their clients due to the technical nature of the goods and services they supply. One bug in a new piece of software can result in delaying final delivery dates and subsequently expose the business to a breech of contract claim.
Q: As a self-employed / Limited Company business what types of Insurance cover are compulsory?
It is advisable to consider all elements of insurance to protect you from a variety of risks within your market. If you employ any staff, you are required by law to have Employers’ liability insurance. The only exemptions are Limited companies where the owner is the sole employee and unincorporated family businesses where all employees are closely related.
Professional indemnity and Public liability are often required by your customers under contract.
Q: How long does it take to arrange cover?
You can get a quote online fast. We provide a full breakdown of the premium for each cover, provide policy summaries and clearly list excesses.
If you’re happy with the quote, you can buy online and download your personalised policy documentation in minutes (we are the only insurer currently offering this service).
Q: How do I find out the terms and conditions of each type of insurance policy?
We provide a policy summary for each cover when we provide you with your quote which is a plain english overview of the cover listing key benefits, exclusions, claims service information and how to cancel your policy.
We also provide sample policy wordings which can be downloaded from the document centre on our website.