Professional Indemnity Insurance
Professional Indemnity Insurance is an insurance policy that covers your business in the unfortunate event that a client makes a claim against you. Certain business professionals, from accountants and architects to solicitors, are required to secure Professional Indemnity Insurance, while others who are members of a regulatory body are strongly encouraged to take out a policy.
What is Professional Indemnity Insurance?
As a whole, it is highly advised that business professionals obtain this insurance, since a claim against your business – which could consist of anything from giving advice that results in your client losing money, to a confidentiality breach – could cost you and your business dearly.
WHO WE COVER?
Our extensive experience within the industry means that we have a history of providing PI Insurance to a range of different professionals including:
What Level Of Professional Indemnity Insurance Do I Need?
Your policy should cover claims made against your business and the defence of any disputes, so the level of Professional Indemnity Insurance (PI Insurance) you purchase will vary depending on the size of contracts you are involved in and may even be determined by your regulatory or client requirement.
When choosing a limit of indemnity for your PI Insurance it is best to consider what you could stand to lose from a dispute. However, ultimately you must satisfy yourself that you carry sufficient cover to meet any allegations which may be made against you. If you are unsure as to what level of insurance you should purchase, you can speak with our experts here at Cavendish Munro.
While we hope that you never need to make a claim on your PI Insurance, it is far more beneficial to purchase the right policy from the outset, rather than find yourself in need without cover.
Why Choose Cavendish Munro?
Our team at Cavendish Munro always put our clients first, and will always work to the highest standards to find you the best cover; assessing your business and level of risk before we begin our negotiations.
Not only do we have an in-depth understanding of many the professional regulators requirements, we can discuss the level of insurance you should take out, as well as search tirelessly to find the best insurance that meets your business’ needs.
Using Cavendish Munro often results in cost savings, as we will ensure the policies we negotiate on your behalf are the best option for you. We deal with all the time-consuming legwork while you continue to do what you do best; run your business.
For more information about Professional Indemnity Insurance and how we can help you find the best cover, call our team on 020 7264 0545 or send a copy of your proposal form to us (or fill in one of ours here) and one of our brokers will contact you within 24 hours to discuss your needs.