PROFESSIONAL INDEMNITY INSURANCE EXPLAINED

Professional Indemnity Insurance is considered a necessity in professional services and in some industries, it is a mandatory requirement to trade.

As a business owner in a professional services industry If someone alleges that you’ve made a mistake, misstated facts, misinterpreted their interests or breached your professional duty of care they may take legal action against you to recover any losses.

The risk of a client making a claim against you whether the allegation is true is immeasurable, Professional Indemnity Insurance acts a level of protection for your reputation, assets and finances. This means you can continue in the day-to-day operations your business without the stress of financial or reputational ruin should a claim arise.

WHAT IS COVERED?

Some of the common coverage sections of a professional indemnity insurance policy are

  • Breach of Duty
  • Sub-Contractors
  • Intellectual Property Infringement
  • Loss of Documents
  • Claims Investigation Costs
  • Joint Venture Liability
  • Breach of Privacy and/or Confidentiality
  • Defamation
  • Fraud & Dishonesty
  • Public Relations Expenses
  • Enquiry Costs
  • Errors and/or Omissions

FOR MORE INFORMATION OR TO REQUEST A QUOTE, PLEASE CONTACT BESPOKE TODAY

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