Professional Indemnity Insurance

In the event that a client considers your advice to be negligent and the cause of financial loss or reputational damage to their business, they may make a claim against you. Without professional indemnity insurance, you could be exposed to legal costs as well as awards for damages.

As is the case with public liability insurance, clients who work with you may wish to see evidence of your professional indemnity insurance before they employ your professional services.

Who needs professional indemnity insurance?

Professional indemnity insurance is not a legal requirement, but could prove invaluable for any business offering professional services. In an increasingly litigious society, you may be sued for negligence when, in fact, you believe you have done nothing wrong. It is often the cost of defending a legal claim in such circumstances that can be crippling.

Likewise, errors and omissions or simple mistakes can occur, regardless of how meticulous you are in your approach to business. The more clients you have on board, and the heavier the workload you take on, the more likely it is that – in spite of being a seasoned professional – you may inadvertently miss something that a client later deems as detrimental to their financial position.

While you can do everything within your power to document advice given to clients and to stay within the regulations applicable to your industry, there are always occasions where such clients may deem you responsible for losses they occur.

Circumstances can include breach of care to a client, loss of their data or documents, dishonesty, libel or slander, or unintentional breach of their intellectual property rights.

For all these reasons, professional indemnity insurance is ideal for:

• Business advisers/consultants
• Accountants/Financial Advisers
• IT consultants
• Project managers
• Marketing consultants
• HR consultants
• Architects
• Any other business offering direct advice to clients

This list is not exhaustive. Gallagher is able to cover a wide range of industries utilising a number of leading names in insurance. So if you do not see your profession on the list, simply call us to discuss what you do, and we will look at arranging cover that offers adequate protection for your business.

With limits of cover up to £2m or more (subject to professional circumstances), Gallagher is able to arrange the appropriate levels of cover for business, while keeping the cost manageable for you.

How do I arrange professional indemnity insurance?

It’s easy to arrange cover with us. Simply:

• Call us on 01625 400206 for immediate assistance
• Fill in our quick online form – and we will prepare your quotation for you
• Arrange a call back – and a member of our friendly team will give you a call at a time to suit you