If people rely on your expertise, you should rely on professional indemnity insurance.
Even the best-run businesses with seamless risk management provisions can find themselves at the wrong end of a compensation claim, and for this reason, professional indemnity insurance is vital for organisations of all kinds. Any business that provides other businesses or individuals with advice or professional services needs professional indemnity cover – otherwise, slight mistakes could turn into career-ending problems.
Professional indemnity insurance
Professional indemnity insurance protects you against negligence claims by clients made against your business. These could be due to mismanagement of accounts, inadequate work, or any other mistakes that could cost your clients money or reduce their profitability.
You’ll still need professional indemnity cover even if your business runs absolutely flawlessly – not only will this insurance cover compensation settlements made against you, but it will also cover the cost of defending yourself against compensation claims – even if you are successful.
We can get you great rates for all the types of insurance your charity will need, including:
• Financial advisors
• Solicitors and lawyers
• Business consultants
• IT technicians
• Even insurance brokers, like us!
Protect your business from legal expenses and compensation claims.
How much professional indemnity insurance does my business need?
The exact amount of professional indemnity insurance required for your business will depend on a wide range of factors, including the industry you operate in, the risks you face, and your claims history. You will need a few ten thousand pounds’ worth of cover at a bare minimum, but if your risks are significant – for instance, if you work in the Central London Conveyancing sector – you may need tens of millions of pounds insurance.
To find out the right level of cover for your business, or for a fast quote, just give Total Insurance a call, or contact us online!